The rupee lost 52 paise against the dollar

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(Gujarat News Office) MUMBAI: The dollar rose sharply against the rupee in the Mumbai currency market today and players were stunned as the dollar rose to close at Rs 5. The dollar had gained 7 paise today. With the stock market plummeting and crude oil prices soaring in the world market, the rupee is depreciating in the domestic currency market, market analysts said. The dollar opened at Rs 4.5 this morning with a low of Rs 4.5, after touching a low of Rs 7.5 and closing at a high of Rs 4.5.

The dollar had touched a 52-week high of Rs 4.05 and was close to that level today. In the US, the market was now keeping an eye on the job growth figures released on Friday. The euro fell to an 18-month low against the dollar in world markets. The possibility of an interest rate hike in New Zealand was being discussed in the market.

Meanwhile, with the dollar rebounding against the rupee, exporters and state-owned banks are also likely to sell on the dollar in the domestic currency market, market sources said today. In the global market, the dollar's index against various currencies rose by 0.4 per cent to close at 6.5, up from 7.5, today. The rise in the dollar index in world markets also had an impact on the dollar's value in the Mumbai currency market.

Meanwhile, in the Mumbai market, the British pound rose by Rs 101.5 to Rs 101.5 and Rs 101.5 today, while the European currency, the euro, rose by Rs 4.5 to Rs 7.5 and touched Rs 5. 21 remained.

The Japanese yen was up 0.5 per cent against the rupee today, while the Chinese currency was up 0.3 per cent at the end of the day.

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