Rupee at All Time Low: The fall in the rupee against the dollar is not taking its name. The Indian rupee has closed with a historic fall in the currency market on Tuesday. Due to selling by foreign investors, the rupee fell by 7 paise against a dollar to close at its historical low of Rs 77.73. On Wednesday, the rupee had closed at the level of 77.71 against a dollar, and earlier on May 19 had closed at Rs 77.72.
Will RBI intervene?
All hope rests on RBI to stop the fall in the rupee. RBI has taken many steps to stop the fall in the rupee. RBI has sold dollars. But foreign investors are continuously selling investments in the Indian stock market and withdrawing investments, due to which the rupee is becoming weaker against the dollar. So far in 2022, foreign investors have withdrawn more than Rs 1.57 lakh crore from Indian markets.
why rupee weakened
Because of the possibility of increasing the interest rate by the US Federal Reserve, the interest on the 10-year American bond has increased to 3 percent. Due to this news, there is a weakness in the rupee. Due to this, when the currency market is closed, the rupee has closed at Rs 77.73 against one dollar, which is a historic low. Earlier on May 17, the rupee touched a low of Rs 77.78 against a dollar intraday.
Rupee may continue to fall
According to many experts, the rupee may weaken against a dollar and fall to 80 rupees per dollar in the coming days. In fact, because of rising inflation in America, if the Federal Reserve Bank decides to increase interest rates, then investors can withdraw money from emerging markets like India, due to which the rupee may weaken further.
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