Rupee vs Dollar: Falling rupee has a direct impact on your pocket. The progress of the country’s economy stops. Currently the rupee is at 83.28 per 1 dollar.
Rupee vs Dollar: The Indian Rupee is continuously weakening against the Dollar. We often listen to newspapers and news channels, but have we ever thought about how it affects us? Let us tell you that its direct impact is on your pocket. Not only does the country’s economy weaken, your household budget also deteriorates. But you feel that the government is not taking right decisions within the country. Today the rupee is worth 83.28 per 1 dollar.
First know why the rupee becomes weak
If we talk about rupee, external factors are responsible for it. Currently, due to the war between Israel and Hamas, there is pressure on the Indian rupee along with the world. Today the price of crude oil has reached near $92. For which the government has to spend more. Besides, the situation is serious now due to the war. Therefore the currency is not becoming stable.
What does RBI do after rupee weakens?
After the weakening of the rupee, RBI starts selling the forex reserves in the external market, so that the situation inside the country does not worsen. At the same time, the government increases the loan rates. Due to which the EMI of the common man increases. That means, somewhere within the country, inflation starts increasing.
What effect does it have on the common man?
Talking about the common man, imports start becoming expensive due to reduction in reserves. Due to which prices start increasing within the country. Apart from this, due to increase in cost of crude oil, the prices of petrol and diesel increase and then all the raw materials including vegetables become expensive. Therefore it is said that the rupee should be stronger against the dollar.
