Rupee value in historical decline..!? Stock market is in turmoil..!?

The country's central bank increased its benchmark interest rate by 0.75 percent as expected by many parties after the two-day monetary policy decision to reduce inflation that has been dragging down the US economic growth. But the effect started to reverberate in the indian market in the next few hours. The effect started reverberating in the indian market in the next few hours as foreign investments started to leave the indian market due to the rise in interest rates. The indian rupee lost the 80-rupee mark to settle at 80.43 rupees against the US dollar in Thursday's trade. This has affected the indian stock market in a big way. The US dollar index touched a near 20-year high of 111.72 after the US Federal Bank's interest rate hike. Due to this, the value of the rupee has fallen to 80.43 and has touched a huge decline.
Earlier, the rupee had depreciated to Rs 80.12 and the new interest rate hike has caused a major impact. The 3rd interest rate hike by the US has sent the Asian stock markets into a tailspin. The mumbai stock market's Sensex index fell to 58,973.07 points in Thursday's trade. But in the next few minutes, the Sensex started to rise as the index fell by 210.82 points to reach 59,251.19 points.The Nifty index fell 64.20 points to close at 17,654.15 points after settling as high as 17,580.40 in morning trade. The American stock market has also fallen by 2 percent due to the interest rate hike in the United States. The Reserve Bank's bi-monthly monetary policy meeting is scheduled to take place on september 28-30. The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india is forced to hike the repo rate to drive out foreign investment and curb the depreciation of the rupee.Due to the historic depreciation of the rupee, everyone who earns income in dollars, for example, tech companies, YouTube creators, etc., will benefit. But due to the increase in the price of all imported goods from abroad, the rupee's historic fall in value is affecting consumers from all walks of life.
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rupee value in decline

Sowmiya Sriram

22/09/2022 01:54 PM