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Sunday, December 04, 2022

Dollar Vs Rupee: Dollar has overtaken not only the rupee, but also left behind Euro, Pound, Yen.

aajtak hindi news

Story Highlights

  • About 80 rupees one dollar
  • strengthened risk appetite

Indian Rupee is probably seeing its worst phase these days. The rupee has reached a historically all-time low against the dollar, but if we look at the situation since the beginning of 2022, the dollar has not only made the rupee cry, but the currencies of many major economies from Europe to the American continent. also surpassed. This includes the euro to the British pound and the Japanese yen…

About 80 rupees one dollar
In December 2021, one dollar was equal to Rs 74.50. Now if we look at the data of July 15, then it has become Rs 79.74. In this way, the rupee has fallen sharply against the dollar in the last six and a half months and its value has come down by 7%. This is the lowest level of Rs.

Euro, Pound, Yen also in bad condition
Government sources said that if you are thinking that this strength of dollar is only going ahead of the rupee. So since the beginning of the year 2022 till now, the dollar has strengthened faster than many big economies of the world. The dollar has gained up to 13% so far this year against the European countries’ currency Euro, Britain’s pound, Japan’s yen, Switzerland’s franc, Canadian dollar and Sweden’s krona. In such a situation, this weakness of the rupee cannot be seen in isolation.

Why is the dollar getting stronger?
In the recent past, the dollar has got this strength due to the habit of taking more risk of investors. The stock market has given tremendous returns during 2020 and 2021 in emerging economies like India. Lower interest rates and ample dollar supply strengthened the risk appetite among foreign investors.

In contrast, inflation has been increasing in developed countries since the second half of 2021. The US Federal Reserve has also made efforts to control inflation and raised interest rates. At the same time, due to the start of the Russia-Ukraine war in February, oil prices increased and there was uncertainty at the global level. In such a situation, investors became conscious and they started withdrawing investments from countries like India. At the same time, due to the cost of oil, our import bill started increasing due to which the demand for dollars increased further and finally the dollar started showing strength against the rupee.

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