Loading…
India's Minister of State for Finance told Rajya Sabha that the Russia-Ukraine conflict, soaring crude prices and tighter global financial conditions are the main reasons for the rupee's fall against the dollar. He noted the rupee has strengthened against the pound, yen and euro this year.
India's merchandise exports hit a record US$421.9 billion in 2021-22.
A weaker rupee raises the cost of dollar-priced imports such as crude oil, fertilizer and feed ingredients for India, while supporting Indian export competitiveness. The government's framing suggests no imminent policy reversal to stop the currency's slide.
pib.gov.inJul 26, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
