Know why the rupee is collapsed against dollar?
Thursday - August 16, 2018 12:23 pm ,
Category : WTN SPECIAL
10 percent fall in rupee this year, 2.51 percent this month
AUG 16 (WTN) - The declining of rupee continues in comparison to the US dollar. Rupee fell 43 paise to 70.32 against the dollar in early trade, which is its lowest ever level so far. Today, the rupee has lost 43 paise to 70.32 in the bullion market. In the previous session, the rupee closed at a low of 69.89 against the dollar.
According to information received from the media, the demand for the American currency and the withdrawal of foreign capital from the importers are the cause of weakness in the rupee against the dollar. It is being said that due to the rise in trade deficit statics, released on Tuesday, there had been negative impact on the rupee.
For your information, let you know that according to the Commerce Ministry data, the country's trade deficit has reached the highest level of five years i.e. around $ 18 billion. Here Union Minister Arun Jaitley says that the country has adequate foreign exchange reserves to deal with any unnecessary fluctuations in the currency market.
Here, unlike the statement of Union Minister Arun Jaitley, according to the Reserve Bank of India data, the foreign exchange reserves were $ 402.70 billion in the week ending August 3, which was $ 1.49 billion less than the last week.
For your information, let you know that the rupee on Tuesday collapsed to a low of Rs 70.09 per dollar due to a huge fall in the Turkish economic crisis and its currency in the world.
Let you know, what is the Turkish crisis? And why the rupee is falling against the dollar due to the Turkish crisis? In fact, the United States has doubled duty on Turkey's metal import. After that there is a stir in the international currency market. With this move from the US, Turkey's currency lira has declined by 40 percent. Its negative impact is being seen on the Indian rupee and the euro.
Indian rupee had registered strong strength of 5.96 percent against the US dollar last year. But since the beginning of 2018 the rupee has gone weak. For your information, let you know that the rupee has broken 10 percent this year so far. If we analyze this month, so the rupee has dropped 2.51 per cent in August so far.
AUG 16 (WTN) - The declining of rupee continues in comparison to the US dollar. Rupee fell 43 paise to 70.32 against the dollar in early trade, which is its lowest ever level so far. Today, the rupee has lost 43 paise to 70.32 in the bullion market. In the previous session, the rupee closed at a low of 69.89 against the dollar.
According to information received from the media, the demand for the American currency and the withdrawal of foreign capital from the importers are the cause of weakness in the rupee against the dollar. It is being said that due to the rise in trade deficit statics, released on Tuesday, there had been negative impact on the rupee.
For your information, let you know that according to the Commerce Ministry data, the country's trade deficit has reached the highest level of five years i.e. around $ 18 billion. Here Union Minister Arun Jaitley says that the country has adequate foreign exchange reserves to deal with any unnecessary fluctuations in the currency market.
Here, unlike the statement of Union Minister Arun Jaitley, according to the Reserve Bank of India data, the foreign exchange reserves were $ 402.70 billion in the week ending August 3, which was $ 1.49 billion less than the last week.
For your information, let you know that the rupee on Tuesday collapsed to a low of Rs 70.09 per dollar due to a huge fall in the Turkish economic crisis and its currency in the world.
Let you know, what is the Turkish crisis? And why the rupee is falling against the dollar due to the Turkish crisis? In fact, the United States has doubled duty on Turkey's metal import. After that there is a stir in the international currency market. With this move from the US, Turkey's currency lira has declined by 40 percent. Its negative impact is being seen on the Indian rupee and the euro.
Indian rupee had registered strong strength of 5.96 percent against the US dollar last year. But since the beginning of 2018 the rupee has gone weak. For your information, let you know that the rupee has broken 10 percent this year so far. If we analyze this month, so the rupee has dropped 2.51 per cent in August so far.
