Rupee reaches new low of Rs 85.21 against dollar

Mumbai: The rupee continued to fall in the Mumbai currency market today and the dollar reached a record high against the rupee. After opening at Rs 85.11 this morning at Rs 85.13, the dollar price rose sharply and hit a new high of Rs 85.21 and finally closed at Rs 85.20.

For the last six consecutive days, dollar prices have been seen rising against the rupee. As US bond yields rose in the world market, its impact was seen on various Asian currency markets. Rupee declined against the dollar today as importers continued buying.

Although some public sector banks were seen selling dollars today on the so-called advice of RBI, the rupee declined further. Along with increasing withdrawal of dollars from India and increasing trade deficit of the country, the rupee is also witnessing a continuous decline due to reduction in foreign exchange reserves.

The 10-year bond yield in America rose to the highest level in 7 months. Looking at the current situation, market experts were expecting the dollar price to fluctuate up to Rs 85.50.

The Japanese currency fell to a five-month low against the dollar in the global market. The European currency euro fell to a two-year low against the dollar.

Meanwhile, there is news that the global index of dollar reached the highest level of 108.21 today against various major currencies in the world market. An increase of 1.17 percent has been recorded in this index in five days. Meanwhile, the British pound fell 19 paise to close at Rs 106.66 at Rs 106.81 in the Mumbai market.

The Japanese currency was up 0.18 per cent against the rupee today, while the European currency fell 4 paise to 88.56 today. However, the Chinese currency rose 0.09 percent against the rupee today. According to the news from China, the government is going to issue a special bond yield of 411 billion dollars.

foreign exchange prices