Negative impact of rupee to be seen soon
Sunday - August 19, 2018 2:59 pm ,
Category : WTN SPECIAL
Mobile and electronics products may be expensive
AUG 19 (WTN) - Rupee is falling steadily against the US dollar. 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 you talk about this month, then in the month of August, rupees has been broken around 2.50%.
Due to the decreasing in the exchange rate of rupees, the cost of companies, like mobile phones manufacturers and consumer durable products, is constantly increasing; due to this, concerns have spread in the companies. If the rupee continues to fall, then these companies can increase the prices of their products in the coming days or in the festive season.
According to these companies, the rupee is weakening against the dollar. If these companies import goods from abroad, they have to pay more than the dollar. For your information, let you know that any goods in foreign trade are bought and sold in dollars.
According to market analysts, the dollar will be even stronger in the coming days. Due to this, the cost of mobile phones as well as the price of handset will increase. At the same time increasing the cost of raw material, the Indian mobile market is already being pressurized. Mobile companies say that they are trading in very low margins.
Electronics goods production companies of the country say that they are closely monitoring the rupee and the dollar, because the rupee has reached at its record low level of 70.32 rupees against the dollar. For your information, let you know that the import bill has increased by the fall in the rupee. A few days ago, some electronics companies had announced a price increase of 32 inches and a larger TV set due to the fall in the rupee.
For your information, let you know that according to the Commerce Ministry data, the country's trade deficit has reached at 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.
It is being said that the rupee depreciation is continuing because of the global economic crisis of Turkey and its currency lira in the world. For your information, let you know, what is the Turkish crisis? Through which the rupee is declining against the dollar.
In fact, the United States 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.
AUG 19 (WTN) - Rupee is falling steadily against the US dollar. 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 you talk about this month, then in the month of August, rupees has been broken around 2.50%.
Due to the decreasing in the exchange rate of rupees, the cost of companies, like mobile phones manufacturers and consumer durable products, is constantly increasing; due to this, concerns have spread in the companies. If the rupee continues to fall, then these companies can increase the prices of their products in the coming days or in the festive season.
According to these companies, the rupee is weakening against the dollar. If these companies import goods from abroad, they have to pay more than the dollar. For your information, let you know that any goods in foreign trade are bought and sold in dollars.
According to market analysts, the dollar will be even stronger in the coming days. Due to this, the cost of mobile phones as well as the price of handset will increase. At the same time increasing the cost of raw material, the Indian mobile market is already being pressurized. Mobile companies say that they are trading in very low margins.
Electronics goods production companies of the country say that they are closely monitoring the rupee and the dollar, because the rupee has reached at its record low level of 70.32 rupees against the dollar. For your information, let you know that the import bill has increased by the fall in the rupee. A few days ago, some electronics companies had announced a price increase of 32 inches and a larger TV set due to the fall in the rupee.
For your information, let you know that according to the Commerce Ministry data, the country's trade deficit has reached at 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.
It is being said that the rupee depreciation is continuing because of the global economic crisis of Turkey and its currency lira in the world. For your information, let you know, what is the Turkish crisis? Through which the rupee is declining against the dollar.
In fact, the United States 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.
