Rupee fell to Rs. intraday. Slow recovery after hitting new low of 85.11

Mumbai: The record rise of dollar against rupee was broken today in Mumbai currency market, the price of dollar jumped from above and rupee rose from below. This morning the dollar price opened at Rs 85.08 and after showing a new high of Rs 85.09 it soon fell to Rs 84.95 after showing a new high of Rs 85.11 and finally closed at Rs 85.02.

Market experts said that after the rupee touched Rs 84.95 against the dollar, the rupee fell again on news of gap in the stock market and finally closed the day at Rs 85.02. The fall in crude oil prices in the world market had a positive impact on the rupee.

After America reduced the interest rates, news came that the central banks of Britain and Japan kept the interest rates intact instead of reducing them.

Meanwhile, there has also been news of increasing inflation in Japan. The market was keeping an eye on the inflation data coming in America. It is reported that the global index of dollar today fell to 108.22 from a high of 108.54 and a low of 108.10 against various major currencies in the world market. On Thursday this index was at its highest level of 108.41. Thus, the dollar retreated from higher levels in the global indices and its impact was also seen on the Mumbai currency market.

According to the discussion going on in Mumbai market today, due to the so-called advice of RBI, some public sector banks were selling dollars at higher prices and due to this the dollar moved back from the top. At present, experts were predicting the dollar price to be between Rs 84.80 at the bottom and Rs 85.15 at the top.

The global dollar index fell from a two-year high today. Meanwhile, in the Mumbai market, the British pound fell by 150 paise against the rupee today to hit a low of Rs 106.16 under Rs 107 and finally closed at Rs 106.22.

The price of European currency Euro fell by 34 paise to Rs 88.02 and finally stood at Rs 88.25. However, market sources said the Japanese currency rose 01.8 per cent against the rupee today, while the Chinese currency fell 0.12 per cent.

Meanwhile, on the news of India’s foreign exchange reserves decreasing by $ 1.98 billion to $ 652.87 billion, sources said that after the fall against the rupee, the price of dollar has increased again in the Mumbai currency market. Meanwhile, according to dollar experts, the Reserve Bank and various government banks have been selling dollars recently to support the rupee, leading to a decline in foreign exchange reserves.

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