Dollar rebounds after early dip: Pound, euro retreat

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Mumbai: In the Mumbai currency market today, one sided fluctuation was seen in the dollar price against the rupee. However, at the end of the day, the dollar closed marginally higher against the rupee. The price of the dollar opened at Rs.81.58 this morning with Rs.81.68 but then the dollar price stopped falling further and rose again and was finally trading around Rs.81.72.

The rupee depreciated by four paise overall. The rupee opened higher today amid a record rally in the stock market. Although crude oil prices stopped falling in the world market, there were indications from overseas that the rupee had weakened again in the afternoon in the currency market at home.

There was news that home sales figures in America were better than expected. There were now players eyeing the job growth figures. The market is keeping an eye on the meeting of the Federal Reserve in America on December 13 and 14. Meanwhile, the global index of the dollar against various major currencies in the world market was around 106.20 to 106.25 today.

Meanwhile, in the Mumbai currency market today, the British pound was trading at Rs 98.04 to 98.05 from Rs 98.55 to 98.56 while the European currency Euro was trading at Rs 85.44 to 85.45 to Rs 84 against the rupee. 67 to 84.68. The Japanese currency was 0.70 percent plus against the rupee.

Forex rate (in rupees)

dollar

+ 04 money

81.72

pound

- 52 paise

98.04

Euro

- 78 paise

84.67

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