Rupee continues to fall against dollar, what will be the effect of weak rupee on you

Rupee continues to depreciate against dollar

Due to the rise in the dollar and the rise in crude oil, there was an impact on the rupee today. During trading, the rupee fell to a low of 76.26 per dollar. At the same time, the dollar index rose by 0.13 percent to 100.42 against 6 major currencies.

rupee against dollar ,Dollar vs Rupee) has seen a decline even today. Due to the strength of the dollar in foreign markets and weak macroeconomic data, the rupee on Wednesday closed at 76.19 per dollar against the US currency in the currency market, with the rupee falling by 24 paise in the previous trading session. Closed at 76.15 per dollar. Currently the Federal Reserve in dollars (Federal ReserveThe effect of signals is being seen, due to the estimates of a sharp increase in rates, the dollar (Dollar) is getting help, whose effect is visible on the movement of the rupee. Weakness in rupee against dollar means that already expensive goods imported from abroad will become more expensive. However, the weakness in the rupee is a source of additional earnings for exporters.

how was today’s business

In the currency market today, the rupee opened against the US dollar at the previous closing level of 76.15. With a fall during trading, it went down to a low of 76.26 per dollar. In the end, it closed at 76.19 per dollar, down by four paise against its previous closing price. Meanwhile, the dollar index, which measures the strength of the US currency against the six major currencies, was trading 0.13 per cent higher at 100.42. The US Consumer Price Index (CPI) was released on Tuesday, according to which inflation in the US has reached a four-decade high of 8.50 percent in March. Among other factors affecting the movement of rupee, the stock market closed with a fall today. The major index has fallen by about half a percent today. On the other hand, crude oil prices continued to rise and Brent crude oil futures rose 0.46 percent to $105.12 per barrel.

What will be the effect of weak rupee on you

A weaker rupee means that now the country will have to spend more money to buy the same amount of goods. That means imported goods will be more expensive. This includes crude oil, gold etc. because the price of these commodities in the international market is fixed in dollars. At present, there is a rise in crude oil prices and there is a weakness in the rupee, so there is little hope of relief in petrol and diesel. At the same time, the margin of importing companies will also be affected because they will have to pay extra rupees to buy dollars. However, on the other hand, exporters will get benefit. Because if you pay in dollars, you will get more rupees.

read this also

Source link

Leave your vote

Related Articles

Back to top button

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.