Indian rupee became a matter of all four against the dollar today. For the first time, the rupee crossed 87 against the dollar. As soon as the currency market opened, the rupee dropped by 42 paise to the level of 87.06, while within 10 minutes of the business, it fell to 55 paise and the Indian rupee went up to Rs 87.12 per dollar against 1 dollar. Now the question arises that how will the affect the pocket of ordinary Indians due to the fall of the rupee. What will be expensive for them? Let us talk about this in detail in this news.
Effect on the general public Can Due to the weakening of the rupee, the cost of imported items i.e. things that come from abroad from abroad will increase. This includes edible oils, pulses and other important things. As soon as the cost of imports increases, the prices of these items will also increase, causing inflation in the domestic market.
oil and electronic goods will be expensive > Crude oil and energy will also become expensive. Actually, India is the biggest importer of crude oil. Due to the weakening of the rupee, import of crude oil will be expensive, which can increase the prices of petrol and diesel. This will also increase transportation costs, which will affect the prices of all goods in the end.
electronic and capital goods will also be expensive. Actually, most parts of electronic goods and machinery are imported from abroad. The fall of the rupee will also increase their prices, due to which consumers will have to spend more.
In addition, students and passengers traveling abroad will also have to spend more. The weakness of the rupee against the dollar will increase their education and travel costs.
medicines will become expensive
Most medicines in India are called from abroad , That is, imports are done. In such a situation, when the historical decline has been seen in the rupee, it will also affect their prices. Drugs in the country can also be expensive due to the fall of rupee.
Why the rupee dropped
There are many reasons behind this decline of Indian rupee. The biggest reason is the tariff being imposed by the US. This has increased the attraction regarding the dollar. Due to this, there has been a decline in other currency against the dollar. In addition, the demand for dollar has increased due to employment growth in the US, which has put pressure on the rupee. At the same time, crude oil prices have also risen in the international market, due to which the import bill has increased. Apart from this, the withdrawal from the Indian stock market by foreign institutional investors (FII) has also weakened the rupee.
(tagstotranslate) Rupee opened at all time low
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