Indian Rupee slumps further to hit new record low

Exchange Rate in International currency markets is important as it determines the growth rate of a country. If currency of a certain country gains value then investments could increase as the country shining would be a positive sign for businesses to prosper.

If country losses the value, the dip suggests struggling economy and foreign funds or Foreign Direct Investments could be low. Hence, it is closely followed by RBI, Indian government to see that Indian Rupee value against US Dollar would be at a constant or gaining rate rather than come down or hit lows.

Unfortunately, Indian Rupee is continuing to struggle against USD owing to the inflation. Edible oils, Vegetables costs are increasing and unseasonal rains have spoilt crops too. Assam Floods and non-stop rains in North-Eastern states have become a National calamity that Government needs address immediately. Fuel rates are going up too.

With all these problems Indian Rupee value has hit all time record low at 77.69 against USD. RBI entered the open market to improve the situation few days ago and Rupee ended up gaining value. But now, it has hit another record low slumping further. Rupee hit 77 benchmark for the first time in March.

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