Dollar vs Rupee: Rupee will bow before the dollar, what will be the effect of this weakness on the country, who will be in profit?


Posted on 26th Sep 2022 01:46 pm by rohit kumar

The depreciation of the Indian rupee continues due to the strengthening of the dollar. In the early trade on Monday, the rupee fell by nearly 40 points to 81.55 in the rupee. On the other hand, the US dollar has reached its highest level in 20 years. After the fall in the Indian rupee, market experts predict that the Reserve Bank may decide to sell the dollar to stop the fall in the currency.

 

What will be the effect of rupee depreciation on the market?

 

The weakening of the rupee will have the most adverse effect on the country's import bill. As the rupee is depreciating, the country's import bill is increasing. Now traders will have to spend more money to import than before. Companies dependent on imports will have lower margins. It will be recovered by increasing the value. This will further increase the already existing inflation. Due to this, petroleum products, traveling abroad, and consuming foreign services will become expensive. The depreciation of the rupee also hurts the foreign exchange reserves. This will empty the treasury of the country. This is not right from the point of view of the economic condition of the country.

 

How did the US currency strengthen from the rupee in the year 2022?

 

Date Value of One Dollar in Rupees

 

1 January 75.43

 

February 1 74.39

 

March 1 74.96

 

April 1 76.21

 

May 1 76.09

 

June 1 77.21

 

1 July 77.95

 

August 1 79.54

 

29 August 80.10

 

22 September 80.79

 

26 September 81.55

 

These industries of the country will benefit

 

In the event of a weakening of the rupee, the earnings of IT companies doing their business abroad will increase. At the same time, the exports of the pharma sector will also increase. Apart from this, the textile sector will also benefit from the weakening of the rupee as India currently stands second in the world in terms of the export of textiles. Therefore, if the dollar strengthens, this sector will benefit greatly.

 

Finance Minister said - we are in a better position than other currencies

 

Finance Minister Nirmala Sitharaman on Saturday said that the rupee is much stronger against the US dollar than other currencies. On the question related to the rupee falling to a record low, Sitharaman said that the Reserve Bank and the Finance Ministry are monitoring the situation very closely. He told reporters here that if there is one currency that is capable of sustaining itself and is free from volatility or volatility as compared to other currencies, it is the Indian rupee. We have come back very well. We have dealt with this situation quite well.

 

When asked about the depreciating rupee, he said there is a need to study the condition of other currencies against the dollar in the current period of depreciation. The rupee had touched a level of 81.09 against the US dollar on Friday. This decline has continued in the last few months.

 

Also Read: Rupee vs Dollar: The rupee at its all-time low, after Fed's decision reached the level of 80.45

1 Like 0 Dislike
Previous news Next news
Other news

BPSC Exam Protest: Decision on re-conducting BPSC exam today! The government is ready, it is just waiting for this

In the student parliament that went on for seven hours in Gandhi Maidan, everyone was unanimous t

Sri Lanka does not want to become Bangladesh: Finance Minister said- poor countries should avoid China's debt trap; Now Bangladesh-Nepal is in danger of bankruptcy

A statement by Bangladesh Finance Minister Mustafa Kamal told the world the reality of China. Mus

Covid-19 Update: Decrease in corona cases, 134 new cases were found in 24 hours; Know the positivity rate

The faster the cases of the corona were increasing in the country, the faster they are decreasing

Prayagraj Commissionerate in big preparations before Maha Kumbh, 13 new police stations and 23 police posts have been built

A strong cordon is being made for the security of the devotees in the outer cordon of the Mahakum

CSK vs LSG: 'We lost not because of our weakness', Ruturaj Gaikwad, find out who was blamed for the defeat

Chennai Super Kings suffered a 6-wicket defeat with 3 balls remaining at the hands of L

GRAP3: GRAP phase 3 restrictions re-implemented in Delhi-NCR, know what the instructions on BS3 petrol, BS4 diesel cars

The Commission for Air Quality Management (CAQM) on Friday, January 3 imposed Graded Response Act

Attack on a police station, why did Punjab police back down: Khalistan supporter Amritpal brought Guru Granth Sahib, swords and guns were also there, so no action was taken

Thousands of supporters of 'Waris Punjab De' Jathedar Amritpal attacked the Ajnala police station

SRH vs GT Pitch Report: Batting or bowling? What will be beneficial after winning the toss, is knowing the nature of the Hyderabad pitch

The 66th match of IPL 2024 is to be held between Sunrisers Hyderabad and Gujarat Titans

Elections in 2025: Assembly elections in Delhi-Bihar and by-elections in six states, how much will the country's politics change in 2025?

Today's morning was special. Leaving behind old memories, we stepped into the new year. While 202

KL Rahul Birthday: 'Which I cannot express in words...' Father-in-law Sunil Shetty shared a special picture on KL Rahul's birthday.

Today is the 32nd birthday of Indian cricketer and Lucknow Super Giants captain KL Rahul. Actor S

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash