The Indian rupee has fallen to an all-time low against the US dollar. The rupee fell by around 27 paise to Rs 95 per dollar in early trade on Tuesday. Rupee is currently trading at Rs 95.58 which is a major concern for the country’s economy. If this trend continues, the rupee is almost certain to move towards 100 against the dollar. Not only in the currency market but also in the stock market. The Sensex fell over 900 points on Monday.
Experts say the pressure on the Indian rupee is due to rising crude oil prices in the international market and war in the Middle East. The situation has been tense since the US-Israeli joint strike on Iranian soil last February. The two sides recently agreed to a ceasefire, but recent threats from US President Donald Trump have further complicated the situation. Trump has made it clear that the ceasefire is now only on life support. This comment had an adverse effect on the global markets and the Indian rupee began to fall rapidly.
The biggest problem for India is H‘At present, almost 90 percent of the fuel used in the country is imported from war-torn areas. There is a risk of disruption of fuel supply. Prime Minister Narendra Modi urged the people of the country to be alert and restrained in such a critical time.‘is called to be He advised the public to work from home whenever necessary and urged them to refrain from using edible oil and buying gold. But Petro‘Liam and the Ministry of Natural Gas warned that the country has sufficient reserves of all fuels, but the current international situation could have a greater impact on the economy.
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