Rupee vs Dollar: The rupee weakened in the last years due to global reasons, Minister of State for Finance answered in the House

Posted on 27th Jul 2022 02:18 pm by rohit kumar

Replying in Rajya Sabha to a question related to the depreciation of the rupee against the dollar, Union Minister of State for Finance Pankaj Choudhary has said that this year against the dollar due to the Russia-Ukraine war, rise in crude oil prices, and deteriorating economic conditions in the world. Rupee weakened.

 

The Union Minister of State for Finance has said in his reply that the exchange rate of the Indian Rupee is decided based on the market. The rupee has depreciated against the dollar in recent years due to several global reasons. These include the trade war between the US and China in the year 2018, raising interest rates by the US Federal Reserve in 2018 itself, and the Covid epidemic in the year 2020.

 

Let us tell you that on Tuesday (July 26) also there was a weakness in the rupee against the dollar. The rupee weakened by five paise to close at 79.77 against the dollar. Let us inform you that on Tuesday, the rupee opened at 79.79 level. In early trade, it was seen slipping to 79.79 level.

 

According to market experts, due to the rise in crude oil prices and fears of tightening of US Fed's stance, the rupee is seeing a fall in the value of the rupee.

 

Also Read: Indian Rupee: The rupee strengthens by 12 paise, at the top of a week, the support provided by softening crude oil prices

Other news

Thousands of teddy bears to be given to Turkey's earthquake victims: fans tossed them into the air at the football ground

Thousands of teddy bears are thrown onto the pitch by spectators during a Turkish Super League fo

Lok Sabha Election 2024: Rajinikanth, Dhanush, and Kamal Haasan cast their vote in Chennai, this superstar reached the first

Lok Sabha elections have started. All the political parties have entered the political arena to t

PM Modi Donald Trump Talk: 'Eager to talk to US President', PM Modi's response to Trump's desire for talks

Prime Minister Narendra Modi on Wednesday responded warmly to US President Donald Trump's positiv

Weather Update Today: Somewhere the mercury will rise and somewhere there will be relief from the rain, read the latest update from the Meteorological Department

The weather pattern is now changing rapidly in many states of the country. With the rising temper

Delhi Murder: 'It is very bad' Poonam used to tell the crowd when her husband Anjan Das's organs were found, Deepak was also with her

Poonam, who murdered her husband along with her son and threw the dead body into pieces, used to

Parineeti-Raghav Wedding: When will Pari's Mimi Didi come to her wedding? Priyanka Chopra will attend this day

Parineeti Chopra is soon going to start a new chapter of her life with Aam Aadmi Party leader Rag

Boney Kapoor: Boney Kapoor met CM Yogi, the film producer's company will build a 'Film City'

Film producer Boney Kapoor has met Uttar Pradesh Chief Minister Yogi Adityanath. Boney Kapoor pos

There will be no third world war: President of Ukraine said- Situation is changing in the war with Russia, we are confident of victory

Ukrainian President Volodymyr Zelensky has said that there will be no third world war. Zelensky a

'Hooda wrote the entire script of this conspiracy', Brij Bhushan Singh furious over Vinesh-Bajrang joining Congress

BJP leader and former MP Brijbhushan Sharan Singh has launched a scathing attack on Indian wrestl

Joe Biden: Biden's big attack on Hamas-Putin, said - both are enemies of democracy, Ukraine-Israel important for US

US President Joe Biden, in his address to the nation from the Oval Office, said that both Hamas a