look news india
Mumbai: The Rupee hit a new low in the Mumbai currency market today as the dollar gained against the rupee. The rupee prices came under pressure in the currency market due to a fall in the stock market. Today the price of dollar against rupee opened at Rs 83.59 with the dollar trading at Rs 83.58 in the morning, the price went up to Rs 83.55 to Rs 83.56, then the price reached a highest level of Rs 83.67 and finally the closing price was Rs 83.65.
Due to the rise in the dollar, the import cost of most of the goods imported domestically has increased and experts are now fearing inflation to rise even before the budget. Meanwhile, according to market sources, there was talk of two major foreign banks buying dollars in the market today. However, there was also talk of some government banks selling dollars at a rise today. The market indicated the possibility of RBI becoming active in the non-controversial futures market. On June 20, the price of the dollar was at its highest level of Rs 83.66 to Rs 83.67.
Experts were saying that the fall in the rupee in the Mumbai currency market has been limited to such an extent that today the price of crude oil has gone down in the world market. Experts were saying that the fall in the rupee in the Mumbai currency market has been limited to such an extent that today the price of crude oil has gone down in the world market.
Meanwhile, the global dollar index rose to 103.83 from 103.82 against various major currencies in the world market today. There is news that the global dollar index is bouncing back after hitting a 4-month low recently, which had an impact on the domestic currency markets.
The price of British pound against rupee on Thursday went above Rs 109 in Mumbai market, but today it again fell to a low of Rs 108.59 from Rs 108.67 to Rs 108.68. However, the price of European currency euro rose from Rs 91.10 to Rs 91.52, from Rs 91.45 to Rs 91.46.
The Japanese currency rose sharply by 1.28 to 1.29 percent against the rupee today, while the Chinese currency saw a slow decline. Market experts were speculating that when the price of the dollar against the rupee rises from 83.70 to 83.75, the selling of dollars by government banks will increase.