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Indian Rupee At All Time Low
By: Tupaki Desk | 30 Aug 2018 6:43 AM GMT
The fall of Rupee refuses to stop. Indian Currency hit a new low at 70.82 against US Dollar on Thursday. The previous closer was 70.59 per Dollar. This downward trend is attributed to dollar demand from importers in the month end.
Biggest Impact of the fall in Rupee will be on the prices of Petrol and Diesel. India imports close to 80 percent of it's crude oil requirement.
In 2018 alone, Rupee fell nearly 10 percent and that made it the worst among Asian Currencies in terms of performance.
5 Reasons For The Fall Of Rupee:
1) More Imports Than Exports
2) Rise in Crude Oil Prices
3) Based on increase in US Interest Rate, FPIs will withdraw their investments in Indian Equity Market
4) Increase of deficit in Current Account
5) Rise in increase of Dollar leaving the country
To stop the fall of Rupee, RBI has given up 2,300 crore Dollars so far. Still, There is no improvement what-so-ever.
During the period 2012-14, Rupee was between 50.56 to 68.63 per Dollar. In the past eight months, A fall of over Rs 7 happened.
Biggest Impact of the fall in Rupee will be on the prices of Petrol and Diesel. India imports close to 80 percent of it's crude oil requirement.
In 2018 alone, Rupee fell nearly 10 percent and that made it the worst among Asian Currencies in terms of performance.
5 Reasons For The Fall Of Rupee:
1) More Imports Than Exports
2) Rise in Crude Oil Prices
3) Based on increase in US Interest Rate, FPIs will withdraw their investments in Indian Equity Market
4) Increase of deficit in Current Account
5) Rise in increase of Dollar leaving the country
To stop the fall of Rupee, RBI has given up 2,300 crore Dollars so far. Still, There is no improvement what-so-ever.
During the period 2012-14, Rupee was between 50.56 to 68.63 per Dollar. In the past eight months, A fall of over Rs 7 happened.
