in ,

Indian rupee rises against US dollar

There is relief from the decrease in the inflation rate in India. The retail inflation rate stood at 5.88% in November. This figure of inflation has come within the prescribed range of RBI. Indian currency is also getting support from this. Twitter Facebook

Listen the Article:

USD vs INR.

Dollar to inr hi-res stock photography and images - Alamy

Due to strong domestic cues, the Indian rupee is witnessing strength against the US dollar. The value of US Dollar in Indian Rupee decreased to 82.07 in intraday. According to experts, the rupee can reach 81.50 to 81.70 in the coming days. Such a big boom in intraday was seen 2 months back. Let us tell you that during today’s trading, the Indian currency jumped up to 0.61% against USD.

What was the reason for the rise in rupee?

According to Anuj Gupta of IIFL SEC, there are many reasons for the strengthening of the rupee. This includes global cues as well as domestic triggers. Dollar index has come down to the lowest level of 7 months. Because the US Central Bank has indicated further increase in interest rates. Due to this, there is a sharp decline in the US dollar. Apart from this, domestic triggers are also supporting the rise of the Indian rupee.

Rupee getting support from domestic triggers

He told that there is relief from the decrease in the inflation rate in India. The retail inflation rate stood at 5.88% in November. This figure of inflation has come within the prescribed range of RBI. Indian currency is also getting support from this. Along with this, the fall in crude prices is also an important trigger. Apart from this, the benefit of good rabi season is also being received. Because a good crop of mustard will reduce the import of edible oil.

Benefits of the strength of the Indian currency

  • The cost of traveling and studying abroad will be less
  • import bill will be less
  • Medicine will become cheaper
  • Crude oil will become cheaper

 

Written by Ajit Karn

Ajit Karn is blogger and writer, he has been writing for several top news channels since a decade. His blogs & notions have quality contents.

Government will sell stake in another company

Government will sell stake in another company

FD Laddering Technique: Try this technique while getting FD done, there will be no FD break and you will get profit every year

FD Laddering Technique: Try this technique while getting FD done, there will be no FD break and you will get profit every year