The rupee has been on the decline since early this year, especially after supply chain disruptions in view of the Russia-Ukraine war, global economic challenges, inflation, and high crude oil prices, among other issues.īesides, there have been heavy foreign fund outflows from the domestic markets as the foreign institutional investors (FIIs) have sold shares worth $28.4 billion so far this year, outstripping the $11.8-billion sell-off seen during the Global Financial Crisis of 2008. The rupee's fall these days is mainly due to high crude oil prices, a strong dollar overseas, and foreign capital outflows. If a country imports more than it exports, then the demand for the dollar will be higher than the supply and the domestic currency like Rupee in India will depreciate against the dollar. If there is a higher demand for the US Dollar, the value of the Indian rupee depreciates and vice-versa. The value of the Indian rupee to the US Dollar works on a demand and supply basis. In the meantime, as the currency volatility continues, let’s decode what this means for you:. Union Finance Minister Nirmala Sitharaman, however, recently said that the Indian currency is relatively better placed than other global currencies against the greenback. Now, this is a double whammy for the common man with the country reeling under high inflation and the prices of everyday items drastically going up. However, on Thursday, it managed to recover from its record low after gaining 13 paise to hit 78.90 against the dollar. The rupee is down nearly 6 per cent since January this year. This has sparked a debate among analysts about whether the domestic currency could see further decline amid weak fundamentals. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.įusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.The Indian rupee has been on a downward spiral for the last few days and on Wednesday, it hit a record low of 79.03 against the US dollar. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. #Dollar rupee professionalTrading on margin increases the financial risks.īefore deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.įusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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