The weakening of the rupee against the dollar is going to impact the Indian economy and ordinary citizens. The increase in the import bill for coal and other essential commodities particularly raw materials has bloated the import bill. The increase in imports is mainly due to a sharp increase in oil prices following the Ukraine crisis. The rupee is falling against the dollar primarily because of the growing trade deficit that imports are increasing at a much higher pace than exports, they added.Īccording to the federal ministry of commerce and industry, India's merchandise export in April-August was 192.59 billion US dollars, and merchandise imports in the same period was 317.81 billion US dollars.Ī weaker rupee makes imports more expensive, thus exerting a short-term negative effect on domestic production and GDP as a whole. 16.Ī multitude of factors, including the ongoing Ukraine crisis, the raising of interest rates by the US Federal Reserve, investors selling Indian stocks to buy foreign ones, are believed to be the reasons behind the falling rupee.įinancial experts argue that as inflation rises across the world and domestic growth slows, investors usually look to sell their Indian assets and put the money into the US markets for better safety and returns. Since the beginning of 2022, India's reserves have fallen 13.88 percent from 633.6 billion US dollars to 545.6 billion US dollars as of Sept. India's central bank, the Reserve Bank of India (RBI), has burnt forex reserves at a dramatic pace this calendar year to prevent exchange rate volatility, an intervention aimed at defending the currency at a particular level.Īccording to a report in the local daily Business Line, as the RBI sold dollars to arrest the fall of the rupee, India's forex reserves depleted the most among all emerging economies. In 2022 so far, the rupee has depreciated 8.9 percent against the US dollar. The rupee declined last week against the US dollar and is currently close to inching toward 82. Indian rupee has fallen to a record low against the US dollar. Pound to Rupee Rate Dips to 6-week Lows, GBP/INR to Test 100.A vendor counts Indian currency notes at a vegetable market in Mumbai, India, Aug.Latest Rupee News, Predictions and Forecasts from Our News Team Handy Conversion Data Table Dollars to Rupees Q: Is the Dollar going up or down against the Rupee?Ī: Today's exchange rate (81.8405) is lower compared to yesterday's rate (81.8752).Ī: 50 Dollars buys 4092.025 Rupees at interbank exchange rates.
Q: What is the Dollar worth against the Rupee?Ī: One Dollar is worth 81.8405 Rupees today
To convert Dollars to Rupees or determine the Dollar Rupee exchange rate simply use the currency converter on the right of this page, which offers fast live exchange rate conversions today! For full history please visit USD/INR exchange rate history page
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