Indian
currency continued to depreciate against the dollar due to
US Federal Bank's policy change. The price of rupees fell again at a record rate. On Wednesday, the price of the
dollar crossed 83 rupees for the first time. On this day it further increased to 83.6 rupees.
On Wednesday, the market closed at 83 rupees. On Thursday, it fell another 6 paise to Rs 83.6 rupees. This morning too, the price of rupees decreased by 6 paise. And not only the price of money has decreased compared to the dollar, but the stock market has also shown signs of recession. The Sensex index fell by around 350 points after the market opened in the morning. Nifty fell by 90 points. Much of this, however, depends on the fluctuations of the US market. But not only money, many other currencies of the world are weakening against the dollar. Other Asian currencies are also suffering like the Indian Rupee.
As always, the fall in the
value of the Indian Rupee points the finger at the
Reserve Bank. Even after increasing the repo rate, the poor condition of the Indian rupee is not improving. However, Finance Minister
Sitharaman said that the Reserve Bank is also making every effort to strengthen the currency.
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