Rupee falls to new low of 84.94 as stock markets fall, trade deficit widens

Mumbai: Amidst the latest shocks, the rupee reached a new low in the Mumbai currency market today and the dollar reached a record high against the rupee. Dollar value Rs. Rs 84.88 this morning. After opening at Rs 84.89 this morning. After opening at a height of Rs 84.89. Rs 84.94 at last closing price of Rs. Were 84.90.

Market experts were saying that due to the fall in the stock market, pressure on the rupee has increased. The dollar continued to rise amid talk of increased dollar withdrawals.

In the context of today’s closing prices also, the Federal Reserve meeting regarding the rupee has started on Tuesday. At the same time, the market was keeping an eye on how much the interest rate is reduced in this two-day meeting to be held on Wednesday. Apart from this, market players were also waiting for signals from the Federal Reserve regarding interest rate cuts and inflation for the coming new year.

The value of the euro against the dollar in the world market has fallen by almost five percent this year. As the difference between American and German bond yields increased, its impact was seen on the Euro.

Apart from America, the market was also keeping an eye on the meetings of the central banks of Japan and Britain. The Canadian dollar has fallen against the US dollar over the past four and a half years. There were also rumors in Canada that the Finance Minister had suddenly resigned. Chinese bond yields hit new lows.

The global index of the dollar rose 0.14 percent today against various major currencies in the world market. The news came that the global index of dollar crossed 107 and remained high from 107.06 to 107.01. Meanwhile, the British pound rose by 33 paise to hit an all-time high against the rupee in Mumbai market today. At the last closing price of Rs 107.91. It was 107.72.

However, the European currency Euro fell by 12 paise to Rs. 88.98 and finally the price is Rs. It was 89.04. Meanwhile, the Japanese currency gained 0.20 per cent against the rupee. Whereas China’s currency remained calm with minor fluctuations.

The rising trade deficit in India had a negative impact on the rupee. However, today there was discussion in the world market that due to the increase in crude oil prices, the decline in the rupee has been limited.

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