look news india
Mumbai: The dollar witnessed a slow movement against the rupee in the Mumbai currency market today. The dollar opened at Rs 83.93 in the morning, the price was Rs 83.94, the price increased to Rs 83.98 and the last closing price was Rs 83.95. However, the decline in the rupee was limited today in the direction of the rise in the stock market.
The news of the decline in the prices of crude oil in the world market stopping and rising again affected the value of rupee in Mumbai currency market. Meanwhile, it is reported that the global index of dollar against various major currencies in the world market today increased from 101.04 to 101.30 to 101.23. In the global market today, most of the Asian currencies remained weak against the dollar.
Importers were seen buying dollars in the Mumbai market. However, due to the rise in the dollar, there were speculations that the rupee would weaken further due to the sale of some government banks. Revised job growth figures have been released in the US and according to these figures, job growth has been reported to be lower than before.
After this, the possibility of further reduction in interest rates has become even stronger. The minutes of the last meeting of the Federal Reserve have been released and the minutes also indicate an increase in the reduction in interest rates.
Meanwhile, the dollar-rupee premium was rising. Players are now keeping an eye on the mid-term statement of the Federal Reserve in the US on Friday. The price of the British pound rose further against the rupee in the Mumbai market today and crossed the level of Rs 110. The price of the pound rose from Rs 109.34 to Rs 110.22 and was last at Rs 110.19. The price of the European currency euro also rose. The price of the euro was at Rs 93.31 to Rs 93.52 from Rs 93.73 at the highest level.
However, the Japanese currency declined by 0.33 percent against the rupee, while the Chinese currency was 0.05 percent weaker against the rupee, currency market sources said. Recently, the British pound rose to a 12-month high against the dollar in the global market. The pound gained momentum on expectations that the new government in Britain will boost economic growth.
