The Indian rupee is going weak against the US dollar for some time. In one instance, the Indian rupee fell to an all-time low and even crossed the 80-mark. The deadly trend raised many eyebrows as to how we can survive as one of the biggest economies with the drop in the Indian currency.
Looks like the prayers of Indians were addressed as the Indian rupee saw a rise in its value against the US dollar. Stating the trade on a positive note, the Indian rupee is now trading at 79.12 against the US dollar after the Indian rupee recorded an appreciation of 40 paise.
Though the appreciation is very slight it is much-needed for the Indian rupee given the fact that the Indian rupee has been going down regularly. The new increase in the Indian currency's value saw a high after over one month.
The inflation rate and the global uncertainties helped India in having an appreciation against the US currency. It is known that many banks and bank-related bodies announced many restrictions in Russia as a result of the Ukraine war. The sanctions in Russia are having an impact on other nations and there are a few uncertainties as a result.
After over a month, the Indian currency saw a rise in value. More than India's efforts, the uncertainty faced by the United States helped India see appreciation. It has to be mentioned here that, the US dollar has been seeing a downfall. The downtrend of the US dollar is going on since last week.
Talking about India's efforts to deal with the recession and the inflation rates, the RBI is bringing tax reductions so that the investors will not have any fears and the economy will boost.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.
Looks like the prayers of Indians were addressed as the Indian rupee saw a rise in its value against the US dollar. Stating the trade on a positive note, the Indian rupee is now trading at 79.12 against the US dollar after the Indian rupee recorded an appreciation of 40 paise.
Though the appreciation is very slight it is much-needed for the Indian rupee given the fact that the Indian rupee has been going down regularly. The new increase in the Indian currency's value saw a high after over one month.
The inflation rate and the global uncertainties helped India in having an appreciation against the US currency. It is known that many banks and bank-related bodies announced many restrictions in Russia as a result of the Ukraine war. The sanctions in Russia are having an impact on other nations and there are a few uncertainties as a result.
After over a month, the Indian currency saw a rise in value. More than India's efforts, the uncertainty faced by the United States helped India see appreciation. It has to be mentioned here that, the US dollar has been seeing a downfall. The downtrend of the US dollar is going on since last week.
Talking about India's efforts to deal with the recession and the inflation rates, the RBI is bringing tax reductions so that the investors will not have any fears and the economy will boost.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.