After crossing Rs 83 for the first time in the previous session, the rupee weakened to a new record low of 83.08 against the steadily strengthening dollar. According to market experts, investors are hesitant to take risks because of the impending slowdown, which has increased selling and the rupee is depreciating continuously. According to Bloomberg, the Indian rupee is currently trading at a level of 83.0925 against the dollar after opening at 82.9825 and reaching a new record low of 83.1212. According to domestic media reports, the rupee is trading with a fall of six paise at Rs 83.06.
The rupee depreciates 0.76 percent in a single day
After a volatile session in the previous trading session, the domestic currency had closed at its weakest level of 83.02 per dollar. On Wednesday, the rupee had lost 0.76 percent in a single trading day. The rupee has depreciated more than two percent so far in October. It has declined by more than 11 percent in this calendar year itself.
How much has the Indian rupee weakened against the dollar in eight years?
Information about this was shared by the Union Finance Ministry in Parliament. It has been told that in 2014 when the new government was formed at the Centre, the price of one dollar was Rs 63.33. By December 31, 2018, it fell to Rs 69.79 per dollar. After this, in 2019 this figure reached 70 rupees. This means the price of one dollar was 70 rupees.
Even during the Corona crisis, the price of Rs 70 was against the dollar
It remained at 70 even during the Corona period. However, after that, it registered a rapid decline. By June 30, 2022, the value of one dollar was Rs.78.94. The report tabled in Parliament was based on data up to 11 July 2022. Meaning, by July 11, 2022, the price of one dollar had become Rs 79.41. Now till today's date i.e. 20 October 2022, the value of one dollar has become 83 rupees 14 paise.
What is the condition of other neighboring countries?
The cost of one dollar in India is now Rs 82.32. But the situation in neighboring countries is even worse. The price of one dollar in Pakistan is 218.14 Pakistani Rupee. Similarly, one dollar in Sri Lanka is equal to 365.11 Sri Lankan rupees. China is in a strong position in this matter. 7.18 Chinese Yuan Renminbi is equal to one US Dollar. One US Dollar is equal to 131.74 Nepalese and 104.86 Bangladeshi Rupees. The worst situation is in Myanmar's currency. The price of one US Dollar in Myanmar is 2,095.81 Burmese Kyatso.
Why did the Finance Minister say that the rupee is not falling, but the dollar is getting stronger?
To understand this, we have learned economics Prof. Spoke to Pradeep Joshi. He said, 'Rupee falls or dollar strengthens. It's the same thing. However, the way of saying it is different. In both cases, the Indian people will suffer. Pro. Joshi further says, 'Nirmala Sitharaman wants to say that the Indian rupee is not weakening much compared to the currency of other countries. If we look at the figures, the Euro, British Pound, Australian Dollar, Canadian Dollar, Singapore Dollar, Swiss, Malaysian and Chinese currencies have weakened more against India in the past.
India-Sri Lanka Relations: India will help in building an energy hub in Sri Lanka, an agreement made between the two countries
India, working on several fronts regarding energy security, has proposed to make Sri Lanka a hub of renewable energy. It was agreed upon in the meeting between External Affairs Minister S Jaishankar
Weather Update Today: Weather patterns changed in North India, hailstorms in many places; Clouds will prevail in these states today
There was a partial change in the weather in most parts of North India. In Punjab's Gurdaspur and Pathankot, the wheat crop was spread in the fields due to a hailstorm on Wednesday night, while there
Jerusalem and Tel Aviv were shaken by the sound of explosions, Iran again attacked Israel after Trump's ceasefire announcement; 7 killed.
The Israeli army on Tuesday warned its citizens that missiles have been fired from Iran (Israel-Iran War). Along with this, the sound of explosions has also been heard in Jerusalem and Tel Aviv. Apart
Khan Sir Marriage: On whose formula did Khan Sir marry secretly? The bride was shown at the reception and told the secret.
After the wedding of the country's well-known teacher and YouTuber Khan, now his reception (banquet) is being discussed a lot. The photos and videos related to this are also becoming very viral on
JKBOSE 10th Result 2023 OUT: Jammu and Kashmir Board 10th result released, 78.89 percent of children passed
JKBOSE Class 10th Result 2023 OUT: Jammu and Kashmir Board of Secondary Education (JKBOSE) has declared the Class 10th Result 2023 today i.e. June 19, 2023. J&K Board has declared the Class 10
Jailer Twitter Review: Rajinikanth-Tamannaah's 'Jailor' created a stir in the theatre, such a thing came out of the mouth after seeing the climax
Jailer Twitter Review: Before 'Gadar 2' and 'Oh My God-2' hit the theatres, South Superstar Rajinikanth and Tamannaah Bhatia starrer film 'Jailor' has already hit the theatres. This is the 169th film
Lok Sabha Polls: LJP-Ram Vilas Parliamentary Party meeting, five party MPs elected Chirag Paswan as leader
Lok Janshakti Party chief and newly elected MP from Hajipur Lok Sabha constituency Chirag Paswan has been chosen as the leader of the parliamentary party by his party. A meeting was held between the
'Please don't do this', Sonu Nigam was stoned, and students started throwing bottles and stones at the singer during the concert.
Music world's veteran singer Sonu Nigam often comes into limelight for some reason or the other. Along with his songs, many times his concerts are also in the news. Recently, during a concert, the
Did Sonam marry Raj after killing Raja Raghuvanshi? The murder mystery got more complicated after two mangalsutras were found
New revelations are constantly being made about the Raja Raghuvanshi murder case. Raja's elder brother said on Thursday that he believes that Sonam must have married Raj Kushwaha after committing the
Twitter fired 50% of its employees: Musk said - there is a loss of Rs 33 crore daily, no option but to lay off
Elon Musk has started laying off employees around the world with the purchase of Twitter. Nearly half of Twitter's 7,500 employees have been fired. Twitter had over 200 employees in India, most of
