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All-time decline, running with the dollar and behind India’s money!

All-time decline, running with the dollar and behind India's money!

New Delhi: The price of rupees fell further. An all-time low. On Monday, the price of money stood at 86 against the US dollar. This report indicates that more pressure on money is going to increase in the coming days. Last Friday, where the price of rupee was 85.9650, today it fell to 86.2050.

“For speculators who bet on the rupee, the US jobs numbers give them another reason to hold on,” said a currency trader. By this I mean, I am close to a new level. Whereas the price (of Rs.) has many downsides. Also, we have been waiting for an elegant fix for a long time.’

For the past few weeks, a continuous fall in the price of rupees is visible. One record after another has been set in terms of fall. The role of newly appointed Reserve Bank of India Governor Sanjay Malhotra has also started to be questioned. He is accused of not being able to hold the Indian currency in place against the dollar.

Many people are seeing ominous signs in this decline in the price of money where the US dollar is constantly strengthening. There are also fears about the way foreign investment is leaving the Indian market. According to the calculations of last January 9, 7170.80 crore foreign investment has left the Indian market.

According to Amit Pabari, MD of CR Forex, $4.2 billion has exited the Indian market. The price of oil in the international market is increasing gradually. Again, economic experts believe that the market is turbulent due to uncertainty about the newly elected President of America, Donald Trump. According to them, there is uncertainty about Trump’s trade policy. The Reserve Bank’s domestic liquidity deficit stood at an average of Rs 87,985 crore in January. So the Reserve Bank is also not able to do anything.

Ever since the market closed last Friday, the rupee has seen an all-time decline. It dropped further this morning. Also, the stock market continues to fall. Economists fear that if this continues, the price per dollar may drop to 90 to 95 soon. Gavekal Research has reported this possibility by highlighting the statistics. (Rupee vs Dollar)

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