Mumbai: The rupee today reached a new low in the Mumbai currency market due to the sharp rise of the dollar against the rupee. The dollar today hit an intra-day high of Rs 84.50, a new high. The rupee came under pressure in the currency market today due to the fall in the stock market and increase in crude oil prices in the global market.
This morning, after opening at Rs 84.42, one dollar rose to Rs 84.50 and last closed at Rs 84.49. Even as the closing price, the rupee had reached a new low and due to the rise in the dollar, the import cost of many things including crude oil imported into the country had increased, now experts are fearing increase in inflation and inflation in the country. The country is going up.
Due to increase in withdrawal of dollars from the stock market, there was a negative impact on the rupee in the currency market. Various foreign banks were trading in dollars in the Mumbai currency market today. Due to increasing uncertainty over whether there will be a cut in interest rates in America in December, its impact was also seen on the price of the dollar globally. Various Asian currencies were seen falling against the dollar in the world market.
Today, there was less activity from the Reserve Bank of India and various public sector banks in the Mumbai market and dollar prices rose sharply due to the dollar selling by public sector banks being slower than expected. Market experts said this. Since Trump came to the post of President of America, the price of dollar has increased by about two percent in the world market. As tensions between Russia and Ukraine escalated again, its impact was seen on the global currency market and crude oil market. The global dollar index rose from 106.68 to a high of 106.74 today.
Meanwhile, the British Pound stopped rising against the rupee today in Mumbai market and fell by 21 paise to Rs 106.66 and finally stood at Rs 106.74. The European currency Euro fell by 19 paise from Rs 89 to Rs 88.82 and finally stood at Rs 88.87. There has also been news of decline in the prices of pound and euro against the dollar in the world market. Meanwhile, the Japanese currency appreciated by 0.46 per cent against the rupee in the Mumbai market today, while the Chinese currency witnessed a slow decline of 0.03 per cent.
Now the market was eyeing the country’s foreign exchange reserves data to be released on Friday. Earlier on November 14, the price of dollar had closed at a new high of Rs 84.46 against the rupee in Mumbai market and today the price of dollar went up further breaking that record. Market sources say that the rupee has reached a new low.
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