The Indian rupee has fallen to an all-time low against the US dollar. This is the first time the rupee has fallen to 84.75 against the dollar. The country’s media outlet Economic Times reported this information in a report on Tuesday (November 3).
The report said that although it increased slightly at the end of the day to 84.68 rupees. On the other hand, the dollar index increased to 106.50. And last Monday (December 2), the price of one dollar stood at a low of 84.70 Indian rupees.
Experts believe that the rupee would have fallen more. However, due to the intervention of India’s central bank RBI, it has been stopped to some extent. And the rupee has fallen due to India’s slowing economic growth and contraction in foreign capital investment (FPI) inflows.
In addition, if the countries included in the BRICS (Brazil, Russia, India, China and South Africa) try to create a common currency, then the newly elected US President Donald Trump has threatened to impose 100 percent tariffs on imported goods. This is also affecting the price of the rupee.
Meanwhile, traders are calling the continuous fall in the rupee a cause for concern. The RBI has been intervening in the market to stop the rupee from depreciating for several months. With the fall in the rupee, the suffering of the common people is also increasing. Everyone from import and export to the common people to students studying abroad is being affected.
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