Rupee weakens due to Russia Ukraine War???
Rupee weakens due to russia Ukraine War???
Russia-Ukraine war has had a strong impact on India's economy and has seen the biggest decline since mid-December. On friday, the price of a rupee reached the mark of 76 per dollar. On the other hand, traders said that after the initial fall in the dollar/rupee, importers and banks rushed to buy the greenback amid ongoing geopolitical risks. Most emerging Asian currencies and stocks fell on friday amid rising investor concerns after reports of the Russian military attacking a nuclear plant in Ukraine.
Expectations of high inflation have gone up. Unless RBI intervenes, the rupee along with Asian peers." There is potential to move forward."
Oil prices jumped again as fears of Western sanctions that could disrupt Russian oil exports and Iranian supplies outweigh the potential.
Traders have pointed out that the jump in international commodity prices, especially crude oil, is a major source of concern. Traders said the central bank was sporadically selling dollars at 75.70 to 75.90 levels through state-run banks in recent sessions to check the sharp fall in the rupee, though this did not have a significant impact on the rupee's fall.
Russia-Ukraine war has had a strong impact on India's economy and has seen the biggest decline since mid-December. On friday, the price of a rupee reached the mark of 76 per dollar. On the other hand, traders said that after the initial fall in the dollar/rupee, importers and banks rushed to buy the greenback amid ongoing geopolitical risks. Most emerging Asian currencies and stocks fell on friday amid rising investor concerns after reports of the Russian military attacking a nuclear plant in Ukraine.
Expectations of high inflation have gone up. Unless RBI intervenes, the rupee along with Asian peers." There is potential to move forward."
Oil prices jumped again as fears of Western sanctions that could disrupt Russian oil exports and Iranian supplies outweigh the potential.
Traders have pointed out that the jump in international commodity prices, especially crude oil, is a major source of concern. Traders said the central bank was sporadically selling dollars at 75.70 to 75.90 levels through state-run banks in recent sessions to check the sharp fall in the rupee, though this did not have a significant impact on the rupee's fall.