look news india
Mumbai: The dollar fell slowly against the rupee amid one-sided fluctuations in the Mumbai currency market today, while the British pound and the euro fell sharply. There was news that the British government has reduced interest rates by 5 percent from the 16-year high.
The result of this was that in the world market, apart from the pound, the price of the euro also fell against the dollar and its effect was also seen on the Mumbai market. Today, the price of the pound against the rupee was Rs 107.45, which fell to Rs 106.80 and finally to Rs 106.81.
The pound today hit a high of Rs 107.64 in the Mumbai market after slipping from its highest level after Britain instructed to cut interest rates. Meanwhile, according to global market watchers, Britain is likely to cut interest rates further in November. Britain last cut interest rates in 2020.
Meanwhile, Euro also declined against Rupee today in Mumbai market. Euro price fell from Rs.90.66 to Rs.90.23 and finally the price was Rs.90.24 to Rs.90.25. Dollar price against Rupee today was Rs.83.73, highest was Rs.83.75 to Rs.83.76 and lowest was Rs.83.65 and finally the price was Rs.83.72. Global Dollar Index today was lowest at 103.86 and highest at 104.39 to 104.38 in world market.
Experts were predicting a reduction in interest rates in the US in September. Today, the Japanese currency fell by 0.12 to 0.13 percent in the Mumbai market, while the Chinese currency softened by 0.24 to 0.25 percent. As the Mumbai stock market continued to rise, its effect was seen positively on the value of the rupee in the Mumbai currency market.
