Rupee fell: For the first time at a low of 82.20 against the US dollar, the stock market also fell
The Indian rupee has been depreciating against the US dollar. For the first time ever, it has reached a record low of Rs 82.20 / $. Along with this, the stock market is also trading on the red mark with a fall.
On October 7, i.e. today, the rupee has fallen 0.41% to a low of 82.22 against the dollar. The depreciation of the rupee continues, it was at the level of Rs 81.09 on 23 September last month. At the same time, on July 20, it was at the level of Rs 80. According to media reports, so far this year, the Indian rupee has seen a decline of 10.6%. At the same time, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) of the stock market are trading with red marks.
According to market experts, the rupee continues to fall due to rising crude oil prices and the continued strengthening of the dollar. This decline is not good for the Indian economy as it will have a direct impact on the financial position of the government.
On the last trading day of the first week of the month, there is a decline in the stock market as well. National Stock Exchange (NSE) is currently seeing a decline of -56.05 points with -0.32%. Along with this, the Bombay Stock Exchange (BSE) is seeing a decline of -0.28% points with -165.78.
In India, many other products including crude oil, edible oil, chemical, and electronics are imported from other countries, whose payment is fixed on the basis of dollars. Therefore, due to the continuing fall in the rupee, you will have to pay more to buy all these products than before, due to which its prices may increase soon.