Advance in Dollar against Rupee: Bullish situation in Pound and Euro too

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Mumbai: The price of dollar rose against the rupee in the Mumbai currency market today. The price of the dollar opened at Rs.82.64 this morning with a price of Rs.82.54, the lowest price was Rs.82.60, then the highest price was Rs.82.87, and finally it was Rs.82.87. The rupee weakened by another 26 paise today.

Despite the rally in the stock market and retreat in the crude market, the rupee tumbled in the currency market today, market insiders were surprised. Meanwhile, the global index of the dollar against various major currencies in the world market today indicated a low of 104.79 and a high of 105.10 to 104.99. The market was keeping an eye on the retail inflation and interest rate figures coming out in the US.

It was being discussed in the market today that the outflow of dollars from the capital market has increased recently and due to this, the pressure on the rupee has increased in the Mumbai currency market. The market was hearing that the outflow of foreign capital had increased before Christmas.

Indications of a rebound in crude oil prices in the global market also had an impact on the Mumbai currency market. While retail inflation has come down in India, the fall in industrial production has also had an impact on the rupee.

Meanwhile, the price of the British pound rose by 31 paise against the rupee in the Mumbai market today. The price of the pound was higher at Rs.101.74 to Rs.101.64. The price of Euro, the currency of Europe, increased by 13 paise against the rupee. The price of Euro was higher at Rs.87.33 to Rs.87.30.

The Japanese currency was 0.35 weaker against the rupee today, while the Chinese currency gained 0.19 percent. Despite the increase in the number of Covid cases in China, the issue was discussed in the market as the Chinese currency rose against the rupee.

Forex rate (in rupees)

dollar

+ 33 paise

82.87

pound

+31 paise

101.64

Euro

+13 money

87.30

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