Dollar tumbles against rupee after sharp rise: Banks, importers buy dollars

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The British pound rose to the level of Rs.101

Euro rose to Rs.88 against the rupee: The prices of Japanese and Chinese currencies also rose rapidly

MUMBAI: The Mumbai currency market today witnessed a one-sided bounce in the dollar against the rupee and the dollar ended the day in plus. Although initially the dollar prices tumbled and at one stage the dollar price fell below the Rs.81 level, but then the dollar price rebounded after absorbing the shock. Against the rupee, the price of the dollar opened at Rs.80.94 this morning with a price of Rs.81.13, after which the price rose to a low of Rs.80.88 and then the price rose again to a high of Rs.81.94 to Rs.81.39.

Today, the rupee fell by 26 paisa overall. Today, the dollar fell to a two-month low against the rupee at one point, but the dollar rebounded after that. According to the sources of the currency market, today the buying of importers and various government banks was seen at a low level in dollars.

According to sources in the banking sector, if the rupee becomes stronger, the exports from the country are affected, and for that reason, today the so-called advice of the RBI was heard in the market that some government banks have stopped the rupee from becoming stronger by buying dollars in the currency market.

Meanwhile, in the world market today there was news that the global index of the dollar against various major currencies was at a high of 101.96 and at a low of 101.60 to 101.74. Apart from the dollar, the prices of the British pound also rose against the rupee in the Mumbai market today. The pound rose by 98 paise today. The pound traded at a high of Rs.101.14 to Rs.101.10 today. Today, the price of Euro, the currency of Europe, increased by 93 paise against the rupee. The price of Euro was Rs.88.86 to Rs.88.80. The Japanese currency rose by 0.66 percent against the rupee today, while the Chinese currency rose by 0.54 percent against the rupee, currency market experts said. Meanwhile, according to the news from Pakistan, the government increased the interest rate by one percent and the interest rate there reached a 24-year high. There was a discussion in the world market today that Pakistan's rupee stopped falling more against the dollar due to the increase in the interest rate.

Forex rate

money

In Rs

dollar

+26

81.39

pound

+98

101.10

Euro

+93

88.80

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