All time low rate of Indian rupee

Last Updated on March 24, 2024 6:37 am

India’s currency continues to depreciate against the US dollar. The currency also depreciated on Friday. The value of the Indian rupee has fallen to an all-time low. This information has been revealed in a report by the news agency Reuters and Indian Express.

According to the report, the price of the main international currency US dollar has increased. At the same time, the US Treasury yield has moved upwards. As a result, most Asian currencies lost value. Naturally, the Indian currency has depreciated.

In the last part of the business day under discussion, every dollar was sold at Rs.83.43. Which is the lowest in Indian history. Overall, the Indian rupee has fallen by 0.7 percent this week. This is the biggest weekly price drop in the last 7 months.

Traders said demand for the major global currency, the dollar, was strong in India’s public sector banks on the day in question. Basically the appeal of the currency to importers was tremendous. Besides, the flow of foreign funds has increased. As a result, the Indian rupee has come under severe pressure.

The chief treasurer of a medium-sized private sector bank said that China’s currency, the yuan, has already weakened. It is also one of the most common currencies in the world market. Which has put more pressure on the Indian rupee. As a result, it has created a new record, breaking the previous precedent in the low level.

On this day, the dollar index rose by 0.4 percent. Currently it is standing at 104.39 decimal points. Which is maximum in last 1 month. In this context, the value of the Korean won decreased by 1.2 percent. The US stock market is also down.

Traders said the Reserve Bank of India (RBI) had supplied dollars earlier in the day. However, the central bank of India did not show that trend at the end of the working day. As a result, the country’s currency, the rupee, has fallen to an all-time low.

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