The trend of depreciation of the Indian currency against the US dollar continues. The rupee hit a new record low on Thursday. It declined sharply to 77.81 level against the dollar, which is its all-time low. Significantly, there was some improvement in the rupee on the last trading day, but the very next day it broke again badly.
Estimated break of Rs 81 to Rs.
Amid the continuing fall in the rupee, a report quoted experts as saying that the rupee may hit an all-time low of 81 against the dollar in the coming days. That is, a further decline can be registered in it. However, in the meantime, he has expressed the possibility that after breaking this level, the rupee can rise again. It is worth noting that due to the breakdown of the rupee, a big impact is seen in many sectors. This will see an increase in the prices of everyday commodities from oil prices.
Effect of sell-off of foreign investors
Experts say that when there is turmoil in the international markets, investors turn towards the dollar. When the demand for the dollar increases, then the pressure on other currencies increases. Talking about the uncertainty around the world, due to the Corona epidemic and the ongoing war in Russia-Ukraine, there has been a supply interruption, which is going to create chaos around the world. People look for safe havens when there are times of uncertainty and the dollar is considered a haven. Selling by foreign investors affects the foreign exchange reserves and increases the demand for the dollar, while the demand for the rupee decreases.
The major impact of weakness in the rupee
Significantly, India is dependent on imports from other countries for gadgets including mobile laptops along with essential electric goods and machinery. Most mobiles and gadgets are imported from China and other East Asian cities and most of the business is done in dollars. If the rupee continues to depreciate like this, imports will become costlier in the country. Due to imports from abroad, their prices are sure to increase, which means inflation on mobiles and other gadgets will increase and you will have to spend more. Also, let us tell you that India buys 80 percent of its crude oil from abroad. It is also paid in dollars and due to the cost of dollars, the rupee will cost more. Due to this, freight will be expensive, and due to its effect, inflation will be hit further on everything needed.
Sambhal Jama Masjid case: ASI told the court- there was no need to paint the mosque, gave photographs to the court
The hearing was held in Allahabad High Court on the petition filed demanding the painting of Sambhal Jama Masjid. In compliance with the court's order, ASI has filed the investigation report. In the
Babar Azam broke Virat Kohli's record: scored 17th century, became the fastest captain to score 1000 runs in ODIs
Pakistan captain Babar Azam has impressed everyone with his batting skills. He is called the 'Virat Kohli of Pak', but the 27-year-old Pak batsman has surpassed former Indian captain Virat Kohli in
PM Modi: Health insurance gift to people aged 70 years and above, six crore people will get direct benefit
Prime Minister Narendra Modi will give the gift of health insurance to citizens aged 70 years and above before Diwali. PM Modi will launch Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY)
Covid-19: Vaccine will be made in India against another form of Corona, Bharat Biotech will work
The Indigenous vaccine will soon be available against another form of coronavirus. Recently, the Pune-based National Institute of Virology (NIV) has been able to isolate the XBB.1.16 subtype from the
Monsoon is about to arrive in these states including Delhi, UP, there will be relief from the sultry heat
People troubled by the sultry summer in North India are eagerly waiting for the monsoon. This time the monsoon is reaching late in the whole of North India including the capital Delhi, Uttar Pradesh,
US Fed: The governor of the US Fed said – there may be a slight increase in interest rates during the next meeting
After raising key interest rates by 75 basis points in four consecutive monetary policy meetings, US Federal Reserve Governor Christopher J Waller indicated that the Fed would consider a smaller-sized
SS Rajamouli announces new film Made In India after the success of 'Baahubali' and 'R', shows a glimpse
SS Rajamouli Announces New Film Made In India: Veteran director SS Rajamouli announces his next film. After the tremendous success of Baahubali and RRR, the director has shared the details of the new
Saif Ali Khan: How did the thief enter Saif's house, who helped him and what was the motive? Answers to these questions have not been found yet.
Saif Ali Khan was attacked by an intruder with a knife last night, following which the police are trying to piece together the sequence of events that took place at his Bandra house. He was later
Vivo Y16 4G made a bang entry, great design and great features will blow your senses
Vivo Y16 4G Launch: Vivo has launched its latest budget smartphone Vivo Y16 4G in the Indian market. In this smartphone, customers are being given a strong processor along with a 5000 mAh battery. Not
NASA Orion Spacecraft: NASA's Orion spacecraft left for Earth after doing a Moon mission, setting new record
NASA's Orion spacecraft has left for Earth after completing the Moon mission. NASA's Orion spacecraft on Monday passed close to the Moon and used a gravity assist to return to Earth, marking the start
