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Indian Rupee's Bad Time: Falls Before Dollar At All-time Low
By: Tupaki Desk | 19 July 2022 7:57 AM GMT
The bad run of the Indian rupee against the United States currency continues. Maintaining a steady decline, the currency has been recording the highest low at regular intervals raising many concerns about how worst the rupee can go. The fears did not go wrong as the rupee dipped to an all-time low now.
Reports say that, with a continuous dip, the Indian rupee fell to a massive 80 per dollar and this is the first time the Indian currency fell such a low, and the current trend hints that the rupee might even go worse as the demand for the US currency is increasing at the global market, which is the opposite for the Indian currency.
Since last week, the rupee has been going over Rs 79 per dollar, and there has been a zig-zag in the trade and the Indian rupee ended its trade at an all-time low.
The official data says, the Indian rupee saw a depreciation of 25 percent in the past eight years, and the same was mentioned by none other than the current Union Finance Minister Nirmala Sitharaman, as per the reports. Back on the 31st of December 2014, the Indian rupee was around 63.33 per dollar which now rose to Rs 80 per dollar.
The time for the Indian rupee worsened in 2019 and the pandemic added fuel to the growing inflation and the hike in the trade with the US currency. Many nations are going through the worst phase, but no country is facing a disaster like India.
Though the big changes in the global market are a big reason for this, the dip in the exports and the manufacturing sector not having a big growth are also big concerns.
India has the required resources to export the products and it looks like the Union government is in no mood to focus on that area and increase the exports of the products. India’s dependence on imports is also a big issue for the depreciation of the Indian rupee.
On the other hand, the situation in the country is not favoring the investors and many investors left the country due to many issues. Foreign Direct Investment is a big thing for under-developed nations and the FDIS has come down rapidly in the past few years.
The situation of the under-developed nations is always tricky as even the small developments in the global market will leave a big impact on these nations. The global recessions which are creating havoc in even the developed nations are also pushing the problematic situation for the Indian currency.
Reports say that, with a continuous dip, the Indian rupee fell to a massive 80 per dollar and this is the first time the Indian currency fell such a low, and the current trend hints that the rupee might even go worse as the demand for the US currency is increasing at the global market, which is the opposite for the Indian currency.
Since last week, the rupee has been going over Rs 79 per dollar, and there has been a zig-zag in the trade and the Indian rupee ended its trade at an all-time low.
The official data says, the Indian rupee saw a depreciation of 25 percent in the past eight years, and the same was mentioned by none other than the current Union Finance Minister Nirmala Sitharaman, as per the reports. Back on the 31st of December 2014, the Indian rupee was around 63.33 per dollar which now rose to Rs 80 per dollar.
The time for the Indian rupee worsened in 2019 and the pandemic added fuel to the growing inflation and the hike in the trade with the US currency. Many nations are going through the worst phase, but no country is facing a disaster like India.
Though the big changes in the global market are a big reason for this, the dip in the exports and the manufacturing sector not having a big growth are also big concerns.
India has the required resources to export the products and it looks like the Union government is in no mood to focus on that area and increase the exports of the products. India’s dependence on imports is also a big issue for the depreciation of the Indian rupee.
On the other hand, the situation in the country is not favoring the investors and many investors left the country due to many issues. Foreign Direct Investment is a big thing for under-developed nations and the FDIS has come down rapidly in the past few years.
The situation of the under-developed nations is always tricky as even the small developments in the global market will leave a big impact on these nations. The global recessions which are creating havoc in even the developed nations are also pushing the problematic situation for the Indian currency.
