look news india
Mumbai: It is reported that India's foreign exchange reserves have increased by 12.50 billion dollars, crossing the level of 700 billion dollars for the first time and reaching the peak of 704.89 billion dollars. Meanwhile, according to Bank of America, India's foreign exchange reserves are likely to increase to $745 billion by March 2026.
The dollar closed lower against the rupee in the Mumbai currency market today, ending a two-way ups and downs. Despite the wave of recession in the stock market, the fall of the rupee against the dollar in the currency market stopped today. The dollar price opened in the morning at Rs 83.98 with a high of Rs 83.95, the price was at a low of Rs 83.94, then the price was at a high of Rs 83.98 and finally the closing price was Rs. At Rs 83.97.
On behalf of the RBI, some public sector banks were seen selling dollars in non-deliverable forward and local spot foreign exchange markets, which provided support to the rupee. The market was eyeing the US job growth data.
Meanwhile, the global index of the dollar today traded at a low of 101.81 from 101.99 against various major currencies in the world market. The price of British Pound increased by 42 paise to Rs 110.58 against the rupee in Mumbai market today, the last price was Rs 110.56.
However, the price of European currency Euro fell by 11 paise to Rs 92.54 and the last price stood at Rs 92.58. Japan's renminbi gained 0.11 per cent against the rupee, while China's currency witnessed a marginal decline.