Bhubaneswar: The value of Indian currency, Rupees is getting down compared to the American currency Dollars each passing day. As a result, the value of Indian Rupees has come to 84.30 per one dollar. The situation has occurred as a major fund outflow because of the constant selling of Indian currency by the FPI. If the situation remains so for long, there could be a very serious blunder in the Indian economic condition in the coming times. Due to the historic win of American President Donald Trump, the position of Dollar in the world market has come out to be stronger. In the foreign currency exchange the value of Indian currency started by 84.32, then went down to 84.37 rupees later on 8 November. The lowest level value of rupees ended on 6 November. The vale of rupees then was 84.28.
India imports the highest amount of crude oil from the other foreign countries. Due to the excessive exchange of currency the dollar has become expensive. The inflation rate in India would increase because of the higher import rate of crude oil. The price rise of crude oil will impact the price of patrol and diesel in the country. Presently, the price of crude oil is 75.14 American dollar per barrel. The RBI is planning to control this price between 83.80 to 84.50. Similarly, in the Domestic Equity Market the Sensex rate has reduced to 14.23 point.
-OdishaAge
