Indian rupee against US dollar at a lower level of 72.50

Indian rupee against US dollar at a lower level of 72.50

The price of the rupee has reached 72.50 against one dollar. Earlier, with the opening of the market, the price of the rupee was 72.18 against the dollar.

Source- https://pixabay.com/en/dollar-bank-note-banknote-currency-2931882/

There is a continuous erosion of the Indian rupee. The Rupee rose to the all-time low of the US dollar on Monday. The price of the rupee has reached 72.50 against one dollar. Earlier, with the opening of the market, the price of the rupee was 72.18 against the dollar. Let us tell you that there has been a steady decline in the rupee since the last several days. According to dealers, investors are worried about the withdrawal of foreign investment from the Indian capital market amid rising dollar against global currencies. Let us tell you that a few days ago, the Deputy Chairman of the Policy Commission, Rajiv Kumar had expressed concern about rising trade deficit rather than falling rupee.

They called for measures to increase exports. He said that there are some sectors which benefit from a strong rupee but in the current situation there is no need to be more worried about the rupee depreciation. In the program organized by Industry Board, CII, Kumar had said that I do not believe in a strong rupee. It is very difficult for the government to try and strengthen the rupee and to take steps. He said that economic policy should not only focus on fiscal deficit figures.