Dollar, euro, pound makes rupee weaker

By: News Desk      Published: 10:24 AM, 30 Jul, 2020
Dollar, euro, pound makes rupee weaker

The three major world currencies made gains against the rupee in inter-bank rate on Thursday – the last business day before the Eid holidays – in a repeat performance of what was witnessed a day earlier.

By the time the session was closed, the dollar was up by 20 paisas and available for Rs166.98. Similarly, the euro gained 24 paisas with an exchange rate of Rs196.27 while the pound was available for Rs216.89 after gaining 70 points.

In open market, the dollar was traded for Rs167 after a gain of 35 paisas. The pound’s exchange rate, meanwhile, stood at Rs217 as it gained Rs1 against the local currency.

However, the euro remained stable and was available at the previous day’s level of Rs195.

Earlier on Wednesday, the dollar had gained 33 paisas in inter-bank rate and 40 paisas in open market against the rupee closing the day at Rs166.78 and Rs167 respectively.

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 open market after a gain of Rs1. Similarly, the euro gained 50 paisas and ended the day at Rs195.

July proved to be a turbulent month 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 Rs5.73 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 Rs209.89 on July 17 to the current value of Rs216.19 after a net gain of Rs7. The overall gain in open market during this period now stands at Rs6.