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Rupee Closes At Its All Time Low, 5th Record Weak Close Of Rupee In Last 10 Days Know Details Here

Rupee Closes At Its All Time Low, 5th Record Weak Close Of Rupee In Last 10 Days Know Details Here
Written by Arindam

Rupee at All Time Low: How much more will the rupee fall? This question is now constantly flashing in the minds of the people. Because every day the rupee is making a new record of decline. On Thursday, the rupee has closed its all-time low of Rs 77.72 against the dollar. The rupee has been depreciating against the dollar continuously for the last 10 days.

Record of decline for five days
On Thursday, May 19, the rupee has closed at 77.72 per dollar, which is the lowest level ever. On Wednesday, May 18, the rupee had closed at 77.61 per dollar. On Tuesday, May 17, the rupee had closed at 77.44 per dollar. The rupee had closed at 77.55 per dollar on Monday 16 May. Whereas earlier in the trading session on Friday, May 13, the rupee had closed at 77.50 per dollar.

Not stopping despite RBI’s intervention
RBI has taken many new steps to stop the fall in rupee. RBI has sold dollars. But foreign investors are continuously selling investments in the Indian stock market and withdrawing investments, due to which the rupee is becoming weaker against the dollar. Foreign investors have so far withdrawn Rs 30,000 crore in the month of May. So far in 2022, foreign investors have withdrawn Rs 1.57 lakh crore from the Indian markets. If the rupee is not held, then due to the fall in the rupee, inflation may hit the people further, imports may be expensive, in such a situation the companies will put the burden directly on the common people.

Rupee may continue to fall
According to many experts, the rupee may weaken against a dollar and fall to 80 rupees per dollar in the coming days. In fact, in view of rising inflation in America, if the Federal Reserve Bank decides to increase interest rates, then investors can withdraw money from emerging markets like India, due to which the rupee may weaken further. Rupee is currently falling due to global reasons as well as domestic reasons. Not only is the fall in the stock markets behind it, the continued selling by foreign funds amid the global trend of increasing interest rates has also put pressure on the rupee. Due to the cost of crude oil and the strengthening of the dollar against other currencies, the rupee is seen in the range of weakness.

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Arindam

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