Dollar, pound, euro upstage rupee yet again

By: News Desk      Published: 05:49 PM, 29 Jul, 2020
Dollar, pound, euro upstage rupee yet again

The US dollar struck back on Wednesday as it gained 33 paisas in inter-bank rate and 40 paisas in the open market against the rupee closing the day at Rs166.78 and Rs167 respectively, reported 24NewsHD TV channel.

Same was the case with the other two top currencies of the world – pound sterling and euro – as they too made substantial gains against the local currency.

In inter-bank rate, the pound was up by Rs2.09 and the euro by Rs1.02 while closing the session at Rs216.19 and Rs196.03 respectively.

Meanwhile, the pound was available for Rs216 in the open market after a gain of Rs1. Similarly, the euro gained 50 paisas and ended the day at Rs195.

The current month is proving to be a turbulent period for the rupee. It was July 20 when the dollar set a new record in the country’s history as it was traded for Rs168.30 in inter-bank exchange rate after a gain of 97 paisas.

Similarly, the dollar had closed the session at Rs1.68.80 in open market after gaining Rs1.20.

However, both euro and pound too are having an impressive run since then. The euro had closed the session on July 20 at Rs192.90 after a gain of Rs2.36 and the pound at Rs211.76 with a gain of Rs1.87 in inter-bank rate.

It means the euro inter-bank exchange rate is up by Rs5.49 when compared its value on July 17. Similarly, its price in open market has witnessed an increase of Rs5.50 during the same period.

As far as the pound is concerned, its exchange rate in inter-bank trading has jumped from the level of 209.89 on July 17 to the current value of Rs216.19 after a net gain of Rs6.30. The overall gain in open market during this period now stands at Rs5.