Center's reply on the fall of the rupee!?
Center's reply on the fall of the rupee!?
The devaluation of the rupee against the dollar is raising new concerns as it competes with the changing dates in the calendar. The strength of rupee is weakening like never before. Apart from the large-scale concern over this, the Center is falling down because it cannot give a proper answer. Referring to the comments made by Modi on the fall of the rupee when he was the chief minister of Gujarat, many people are asking questions about the value of the rupee which is decreasing even more.
They are angry that they have not seen the fall of the rupee at this level. At such a time.. lok sabha MPs raised questions related to this in Parliament. In response to the questions of MPs deepak Baiz and Vijay Vasant who wanted to reveal details about the collapse of the indian currency, the government of india has revealed the official details. As on june 30, one dollar was equal to Rs.78.94. It is noteworthy that on the monday when this answer was given, the rupee exchange rate reached a record high of Rs.80 against the dollar.
Since 2014, the value of the rupee has fallen by 25 percent. In the past eight years, the value of the indian rupee has fallen by Rs.16.08 (if we consider june 30.. and it will be even more if we consider July 18). If we look at the value of the fallen rupee in percentage, it is equivalent to a decline of 25.39 percent.
International factors such as Russia, ukraine war, falling crude oil prices have been cited as reasons for the depreciation of the rupee. Foreign portfolio investors are said to have withdrawn about $14 billion from indian equities.