After initially falling against the rupee, the dollar rebounded amid buying by importers

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Mumbai: At the end of a one-sided surge in the price of the dollar against the rupee in the Mumbai currency market today, the dollar price of the day stopped falling against the rupee and closed in plus. However, the dollar price against the rupee initially remained on the decline. But in the afternoon, importers took off in dollars and the dollar price bounced back from the low, market sources said.

After falling to a low of Rs.81.63 to Rs.81.50 today, the dollar price rebounded to around Rs.81.68 to 81.69 at the end of the day. There was news that the dollar index against various major currencies in the world market today was around 105.80 from 105.63.

According to currency market informants, there is a possibility that the Reserve Bank will intervene in the market when the price of the dollar reaches Rs.81.90 against the rupee. The possibility is being discussed that the so-called advice of the Reserve Bank will lead various government banks to sell the dollar at a higher price around Rs.81.90.

In view of this, market experts were predicting the price of the dollar to be in the range between Rs.81.50 in the low and Rs.81.90 in the high. was

Meanwhile, India's quarterly GDP figures are due next week, along with manufacturing figures and job growth figures in the US. Market players are now looking at this.

Meanwhile, the Euro fell by nine paise to Rs 84.88 from Rs 84.87 at the Mumbai currency market today. While the price of British pound increased by five paise to Rs.98.76 to 98.77. The currency of Japan was soft by 0.42 percent. Meanwhile, the price of China's currency yuan remained under pressure in the global market against the dollar.

With the increasing cases of Kovid in China and the various challenges facing the economy, the Chinese government has decided to reduce the Reserve Requirement Ratio for banks with effect from December 5th. Meanwhile, forward premiums of the rupee were seen falling in the Mumbai currency market today.

Forex rate (in Rupees)

dollar

+ 06 paise

81.69

pound

+ 05 paise

98.77

Euro

- 09 paise

84.87

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