Despite the fall in the stock market, the rupee strengthened against the dollar in the currency market.

Mumbai: With the rise in the rupee against the dollar in Mumbai’s currency market, the value of the dollar has declined. Market experts were taken aback by the rise in the rupee against the dollar in the forex market despite a rally in the stock market today. Dollar worth Rs. 81.71 this morning. 81.61 to ...
 

Mumbai: With the rise in the rupee against the dollar in Mumbai’s currency market, the value of the dollar has declined. Market experts were taken aback by the rise in the rupee against the dollar in the forex market despite a rally in the stock market today. Dollar worth Rs. 81.71 this morning. 81.61 to open at Rs. 81.77 after a reduced price of Rs. 81.49 to Rs. It was 81.59. Rupee strengthened by 13 paise today. The global index of dollar against various major currencies in the world market today declined to a low of 101.78 from a high of 102.07. There were signs for 101.96.

The Australian dollar rose to a five-month high against the US dollar globally amid prospects of a higher interest rate hike in Australia, according to World Markets News. And its effect was also seen on the currency market of Mumbai. However, the New Zealand Dollar continued to decline in the world market today. European currency Euro was seen trading at a nine-month high against the US dollar. The index of business activities in the US also saw a decline for seven consecutive months this month.

Meanwhile, the British pound depreciated 36 paise against the rupee in Mumbai’s currency market today. Pound price Rs. 100.41 and closed at the same level. However, the European euro appreciated by 3 paise against the rupee today. Euro price rises to Rs. 89.17 to Rs. It was 88.78. Today, the Japanese currency held on to a strength of 0.30 per cent against the rupee. Currency market sources said the Chinese currency, however, depreciated 0.09 per cent against the rupee.

foreign exchange rate

(in Rs.)

Dollar

-13 paise

81.59

pound

-36 paise

100.41

euro

+03 money

88.78

Source