Reasons why rupee is falling against dollar
Russia-Ukraine conflict, skyrocketing crude oil prices, and tightening global financial circumstances
On 19 July 2022, the native currency fell below the psychological 80-mark versus the dollar for the first time in intraday trade, before closing the session 16 paise weaker at 79.97.
The rupee was worth 63.33 per dollar on December 30, 2014. On July 11, the value decreased to 79.41 once more.
Furthermore, one of the key reasons for the depreciation of the Indian currency is the outflow of foreign portfolio money.
Many foreign investors have exited Indian markets as interest rates in the United States have risen far faster than in India.
So far in 2022-23, foreign portfolio investors have withdrew approximately $14 billion from Indian equities markets.
India's currency, like most other currencies, has declined in value when compared to the US dollar.
The depreciation also affects imports by making them more expensive.
Inflation, protracted COVID-19 lockdowns in China, monetary tightening measures by key central banks, and supply chain problems caused by the Russia-Ukraine war are all factors for this decline.
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