The shock of the record depreciation in the rupee pushed the dollar towards Rs.81

- Upheaval in the currency market after America and Britain also increased the interest rate

- RBI is also in the mood to increase the interest rate: Dollar may rise to Rs.82 as forex reserves decrease

MUMBAI: In the Mumbai currency market today, dollar prices rose like a spring against the rupee, while the rupee hit a record low, while the dollar hit a historic high. With the Federal Reserve in America increasing the interest rate by more than four percent, there was a widespread upheaval in the currency market of India and around the world today. And market players were left speechless. Against the rupee today, the price of the dollar rose higher and reached a new peak of Rs.80.96 in the ongoing market.

As the dollar rose against various major currencies in the world market, there were indications that the global dollar index had crossed the level of 111 and touched a new high of 20 years. As the rupee tumbles at home and the dollar rises, inflation is now likely to increase rapidly. Inflation has increased and there is a fear of further increase, the informants were showing the fear that the Reserve Bank of India will increase the interest rate further in next week's meeting. As the rupee depreciates, all the goods imported into the country will become more expensive.

Meanwhile, in the Mumbai currency market, the price of the dollar against the rupee today was Rs.79.99 and closed at Rs.80.86 this morning after opening at a low of Rs.80.26 this morning and closing at a high of Rs.80.87. The rupee today lost 87 paise against the dollar. Such a one-day price crash in rupees has been seen after 7 months. The last such gap in the rupee was recorded on 24th February this year. Meanwhile, the upheaval in the global currency market accelerated when the Bank of England also announced an increase in interest rates by half a percent in a meeting held in Britain on Thursday after the interest rate hiked in the United States. Indonesia also raised interest rates today. In Japan and Switzerland, there are also rumors of interest rate hikes. There are indications that India will also raise interest rates next week.

As the Mumbai stock market fell, its impact has also been negative on the rupee. Russia's retaliatory stance on the Ukraine war has also had an impact on the currency market. In the world market, the dollar index rose today to a high of 111.81 to 110.92 in the late evening. According to sources in the currency market, the rupee was collapsing against the dollar today, but the intervention of the Reserve Bank remained slow. When the dollar will now be Rs.81, the informants were showing the possibility that government banks might come to sell the dollar. In view of the fact that the forex reserve in India has decreased from 642.40 billion dollars to 550.87 billion dollars in 12 months, the market is also hearing that the Reserve Bank is now adopting a slow policy in selling dollars, and in such a situation, the possibility of the dollar rising to Rs.82 has also been shown by market experts. were staying

There is a possibility of a further 125 percentage point increase in interest rates in the next two meetings in November and December. Currently, the interest rate has increased to 3.5 percent. Which is likely to increase further to 4.50 percent by the end of the year. Interest rates in America have risen to a new peak after 2008. Britain has raised interest rates in seven consecutive meetings. Economic development has bottomed out there. The British pound fell to its lowest level since 1985 against the dollar. At home, the rupee has lost 8.60 percent in the period so far this year. As the rupee depreciates, inflation rises. There was also news that the Japanese government had to intervene in the forex market for the first time since 1998 when the Japanese currency, the yen, fell against the dollar.

Meanwhile, the British pound rose by 57 paise to Rs 91.47 to Rs 91.31 in the Mumbai market today. While the price of European currency Euro increased by 71 paise to Rs.79.85 to Rs.79.72. The Japanese currency fell by 0.31 percent against the rupee today, while the Chinese currency rose by 0.36 percent.

Forex rate	(in rupees)
dollar	+87 money	80.86
pound	+57 money	91.31
Euro	+31 paise	79.72