Rupee at historic ‘low level' against US dollar
Thursday - June 28, 2018 11:38 am ,
Category : WTN SPECIAL
Fear of inflation!
JUNE 28 (WTN) - The decline in the Indian currency rupee against the dollar is continue. Today, the rupee collapsed 28 paise against the US dollar and reached at the level of 68.89.It is being thought that the effect of rising crude oil prices in international market is one of the reason for rupee’s decline. For your information, let you know that this is the historic drop of rupee against dollar.
The rupee has dropped 49 paise against the US dollar in today's trade. This morning the rupee opened at 68.89, which was closed at 68.61 before. According to experts, due to rising crude oil prices and dollar demand, this rupee is declining. At one time in the morning, the rupee was at level of 69.10 against one US dollar.
Let you know that on Wednesday, the rupee started trading with a fall of 19 paise. On Wednesday morning it was opened at the level of 68.43. On Tuesday, the rupee closed after 11 paise decline against the US dollar.
This was the first time since November 29, 2016 when the rupee dropped historical. The dollar demand from the exporters and bankers has been other reason for the decline in rupee. Rupee depreciated by 30 paise to 19-month low of 68.54 against the US dollar in early trade on Wednesday as demand from the American currency from importers and banks continued against the withdrawal of foreign capital.
According to the information, the dollar was firmly under pressure on the rupee against other major currencies. Although the initial rise in the domestic stock market had tried to stop the fall.
If the rupee weakens against the dollar, then it is feared that the import of crude oil will be expensive, which can increase the prices of petrol and diesel once again. If diesel prices go up, it is natural that the cost of transportation will increase, which will make domestic goods costlier along with other items. With the rupee weakening, all such things like cars, computers and smart phones will be expensive.
JUNE 28 (WTN) - The decline in the Indian currency rupee against the dollar is continue. Today, the rupee collapsed 28 paise against the US dollar and reached at the level of 68.89.It is being thought that the effect of rising crude oil prices in international market is one of the reason for rupee’s decline. For your information, let you know that this is the historic drop of rupee against dollar.
The rupee has dropped 49 paise against the US dollar in today's trade. This morning the rupee opened at 68.89, which was closed at 68.61 before. According to experts, due to rising crude oil prices and dollar demand, this rupee is declining. At one time in the morning, the rupee was at level of 69.10 against one US dollar.
Let you know that on Wednesday, the rupee started trading with a fall of 19 paise. On Wednesday morning it was opened at the level of 68.43. On Tuesday, the rupee closed after 11 paise decline against the US dollar.
This was the first time since November 29, 2016 when the rupee dropped historical. The dollar demand from the exporters and bankers has been other reason for the decline in rupee. Rupee depreciated by 30 paise to 19-month low of 68.54 against the US dollar in early trade on Wednesday as demand from the American currency from importers and banks continued against the withdrawal of foreign capital.
According to the information, the dollar was firmly under pressure on the rupee against other major currencies. Although the initial rise in the domestic stock market had tried to stop the fall.
If the rupee weakens against the dollar, then it is feared that the import of crude oil will be expensive, which can increase the prices of petrol and diesel once again. If diesel prices go up, it is natural that the cost of transportation will increase, which will make domestic goods costlier along with other items. With the rupee weakening, all such things like cars, computers and smart phones will be expensive.
