Dollar, euro, pound make gains against rupee
The US dollar started the new week on a bullish fashion by reversing the recent trend in which the rupee had recovered some of the lost ground and closed the Monday session with a 28-paisa gain in inter-bank rate.
According to 24NewsHD TV channel, the dollar was available for 166.63 after starting the day from the previous level of Rs166.35. However, it remained stable in open market against the local currency and was traded for Rs167.
But it wasn’t the dollar only which made gains as both euro and pound sterling were also up in inter-bank rate. The euro closed the session at Rs188.38 after gaining 92 paisas while the pound price reached Rs210.12 after an increase of 75 paisas.
In the open market, the euro make a gain of 50 paisas and was available for Rs188. However, the pound exchange rate remained unchanged as the currency was available for Rs211.
The rupee has been feeling the heat ever since the government opted for devaluation, resulting in devastating consequences for the economy.
Last month saw another surge by the dollar. It was available for Rs163.30 in inter-bank rate on June 5 but the next week saw a complete change in trend till the last week of the month. Hence, the dollar exchange rate was up over Rs5 during this period. However, the rupee regained around Rs2 after that till July 10.