Against the dollar, the rupee fell further to 95.97 near 96

MUMBAI: The dollar closed higher against the rupee at the Mumbai currency market today after a sideways movement. After opening at Rs.95.71 this morning at Rs.95.73, the high price touched Rs.96 close to Rs.95.97 and the low price was Rs.95.58 to Rs.95.79. Looking at the prices of various currencies in Asia, market experts were saying that the performance of the Indian rupee against the dollar has been the weakest.

Meanwhile, the rupee has tumbled six per cent against the dollar this year, while China's currency has depreciated just one-and-a-half per cent, while Japan's has gained three per cent. The rally in the Mumbai stock market continued today and crude oil prices in the global market were also soft at the high end and due to this the rupee rose after the break in the Mumbai currency market today.

Meanwhile, the dollar also saw some state-owned banks sell higher today. In India, the market was now watching the forex reserve data released by the Reserve Bank on Friday. The global index of the dollar today was 98.42 in low and 98.56 to 98.50 in high.

The British pound rose by 13 paise to Rs.129.73 to Rs.129.51 in the Mumbai market today. The price of the European currency Euro increased by 17 paise to Rs.112.38 to Rs.112.21. The Japanese currency was 0.10 percent plus against the rupee today.

While the currency of China increased by 0.17 percent against the rupee. Meanwhile, in the context of the meeting between the presidents of America and China, China's currency rose against the dollar in the world market in offshore trade, reaching a three-year high. The price of the Chinese currency yuan rose to 6.79 yuan against the dollar. After Trump's visit to China, there were indications from the world market that the Chinese president will visit America in September.

FAQ

1. What was the highest value of the rupee against the dollar today?

Today, the rupee rose against the dollar to Rs. reached 95.97.

2. How much has rupee depreciated this year?

The Indian rupee has depreciated by 6% against the dollar during the current year.

3. What data is the market eyeing next?

The market will be watching the forex reserve data to be released by the Reserve Bank of India (RBI) on Friday.

4. What level has China's currency reached against the dollar?

China's currency yuan has risen to 6.79 against the dollar in the global market.

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