The rupee fell by 32 paise to ৩ 3.89 on Thursday on selling in the domestic stock market and withdrawal of foreign funds. It opened at 73.83 per dollar this morning. The rupee closed at 73.57 against the dollar on Wednesday. After opening at 733.62 per dollar in the interbank foreign exchange market, the rupee lost 226 paise to 3.73 against the dollar. Meanwhile, the dollar index rose 0.03 percent to 94.41 against six currencies.
Dollar vs. Rupee this week
|Date and day||Fall or strength||
The price of the dollar
|Thursday, September 24||32 paise has come down||73.89|
|Wednesday, September 23rd||01 paise above||73.57|
|Tuesday 22 September||20 paise is deducted||73.58|
|Monday, September 21st||Got 7p||73.38|
Losses due to weak money
- Impact of crude oil: The region is most affected by the weakness of the rupee, as it is imported. Crude oil import bills will rise and foreign exchange will have to spend more.
- Capital materials and electronic products: The strengthening of the rupee will also bring relief to the sector as the strengthening of the rupee provides cheap capital goods to India.
- Fertilizer prices will go up: India imports large quantities of essential fertilizers and chemicals. It will also be expensive due to the weakness of the rupee. Importers will get less for this higher price. This will damage the region. On the other hand, the weakness of the rupee will have a negative impact on the gems and jewelery sector. This will make it more expensive and will also affect imports.
These regions benefit from the weakness of the rupee
- IT sector: Weakness of the rupee will increase the income of the companies that will work, which will benefit them.
- Pharmaceutical Exports: Due to the weakening of the rupee, exports in this sector will also increase.
- Advantages in Textile Sector: If the rupee strengthens, the export sector faces many losses. If there are weaknesses, there are advantages. India is currently ranked second in the world in textile exports. If the rupee weakens, this sector will also benefit a lot.
- Study Affordable: A weaker rupee will make it cheaper to study abroad. Also travel abroad will be cheaper.