Mumbai: Today the price of dollar against rupee reached a record high in Mumbai currency market. Rupee weakened by 0.05 per cent due to rising dollar. Rupee came under pressure in Mumbai currency market today due to increase in crude oil prices in the global market. This morning the dollar rose to Rs 83.45 after opening at Rs 83.36 and the last closing price was Rs 83.43.
Meanwhile, according to market sources, brokers in Indian rupee exchange-traded options have demanded proof of exposure to their derivatives contracts from clients and instructed clients to offset standing positions if they failed to do so.
Due to this, there was a stir in the Indian rupee-exchange-traded options market. According to market sources, the situation has arisen due to the Reserve Bank of India’s rule that came into effect from April 5, mandating that exchange-traded rupee derivative transactions can be done only for hedging purposes.
However, according to some quarters, the brokers themselves are breaking the rules because the brokers have told clients so!
Meanwhile, the global dollar index today fell to 104.81 from 104.71 against the rupee at 104.90. While the price of Euro was Rs 89.84.
