Friday , January 10 2025

Rupee strengthens again after hitting low of 84.87 against dollar

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Mumbai: In the Mumbai currency market today, the dollar price against the rupee witnessed a slow decline from the peak and after this there were signs of rise in the rupee price from the bottom. After opening at Rs 84.85, the lowest price was Rs 84.81, the highest price was Rs 84.87 and the last closing price was Rs 84.83.

The effect of slow rise in the stock market was visible on the currency market. Amid the rise in the dollar, selling of some public sector banks was also seen. However, the dollar rose to a two-week high against the Japanese currency in global markets. The market was keeping an eye on the inflation data coming in America. The Australian currency was trading at a 4-month low against the dollar and the New Zealand currency at a 12-month low.

Players are eyeing the Central Economic Action Conference in China to support the economy. The market was discussing the possibility of a sharp reduction in interest rates in the United States in the coming weeks. The meeting of the European Central Bank was also kept an eye on on Thursday.

There was also discussion in the market about the possibility that the Bank of Canada would reduce the interest rates. The Canadian currency was trading at a four-and-a-half year low against the dollar. Meanwhile, the global dollar index rose 0.23 percent in the world market today. The global dollar index ranged from 106.70 to a high of 106.65.

Meanwhile, the British pound fell 22 paise against the rupee to close at Rs 107.98 and finally closed at Rs 1081 in the Mumbai market. The price of the European currency Euro fell by 28 paise to Rs 88.99 and finally stood at Rs 89.09. The Japanese currency fell 0.71 percent against the rupee today while the Chinese currency lagged behind by 0.29 percent.

foreign exchange prices

dollar

Rs 84.83

pound

Rs 108.01

euro

Rs 89.09

yen

Rs 0.56