₹ vs US$
At present, the value of Indian currency “rupee” is continuously falling and its value has declined by 12% between January – September 2018. Devaluation is done by the government of the country deliberately while the depreciation takes place because of market forces i.e. demand and supply. Among the BRICS nations; after the Russian Rubel, the Indian rupee depreciated the most of this period. When the external value of the domestic currency depreciates while the internal value remains the same, such situation is known as the devaluation of the domestic currency.
As we know that Indian import bill is always greater than its export bill because demand is more than supply. It means that the trade war will adversely affect the Indian market and India will also experience the outflow of US dollars from its domestic market.
- The Indian rupee impaired this week by 0.28 paisa compared with previous week close.
- Last week rupee closed at ₹72.20 with a gain of 0.18 paisa.
- Current week closed at ₹72.48 with gain of 0.11 paisa.
- Highest gain 0.11 paisa on 28th September 2018 and highest fall 0.44 paisa on 24th September 2018.
