Unprecedented depreciation of Rupee...!? Impact on petrol prices..?

Due to the unprecedented depreciation of the rupee against the dollar, there is a risk of an increase in the price of crude oil. Due to the increasing shortage of the US dollar, the value of the indian rupee has fallen. The Federal Reserve of united states has recently increased interest rates. Due to this, the investors who had invested in foreign countries exited the invested stocks. Due to this, the global stock markets mostly suffered a decline.

Stock Market Status:

Indian stock markets have also been falling for the past 3 days. In this case, the stock markets that started this morning also started with a decline. The benchmark Sensex was down 816.72 points at 57,282.20. The national stock market index Nifty was down 254.4 points at 17,072.95 points.

Deficit per dollar:

As foreign investors have pulled out of indian stock markets, the scarcity of dollars in india has increased. Due to this, the value of the indian rupee started to fall against the dollar. Last friday Rs. At 81.25, the rupee fell to 81.47 this morning. Due to the depreciation of the rupee, the price of goods imported from foreign countries has started to increase. 80 to 85 percent of India's crude oil is imported. Due to this, the price of crude oil has started increasing.
Impact on crude oil prices:

As the price of crude oil is threatened, there are fears that prices of petrol, diesel, and cooking oil will rise. In this case, the reserve bank of india meeting will be held on the 30th. It is said that the meeting will decide the strengthening of the indian rupee against the dollar.

మరింత సమాచారం తెలుసుకోండి:

depreciation of rupee

Sowmiya Sriram

26/09/2022 02:58 PM