Rising crude puts pressure on rupee: Dollar approaches Rs 76 intra-day

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(Gujarat News Office) MUMBAI: The rupee depreciated sharply against the dollar in the Mumbai currency market today, pushing the dollar higher in the current market and reaching a near high of Rs 5 at one point, market sources said. The rupee has come under increasing pressure in the currency market amid rising crude oil prices in the global market and a retreat in the domestic stock market.

After opening at Rs 4.5 today, the dollar was trading at a low of Rs 2.50 and a high of Rs 4.5 and a high of Rs 4.31. The rupee had lost another 15 paise today. With the dollar hitting a 52-week high of Rs 4.5, analysts were predicting a sharp rise in the dollar to a 52-week high. The euro plunged to a 21-month low against the dollar in global markets amid fears of a major economic blow to Europe in the wake of the Russia-Ukraine war.

In global markets, the dollar index rose to a high of 7.5 and a high of 7.5. In the Mumbai market today, the price of British pound jumped from Rs 101 to a high of Rs 101.5 and remained at Rs 101.5, indicating a gain of 3 paise. At a time when the European currency was depreciating in the world market, the euro jumped by Rs 5 to Rs 2.91 and rose to Rs 4.05 in the Mumbai market today.

However, the Japanese yen depreciated 0.06 per cent against the rupee today, while the Chinese currency gained 0.5 per cent. Private sector job growth figures in the US have been good and now the market was watching the data of non-farm payrolls released on Friday (today) and the events in Russia-Ukraine.

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