The rupee yet again fell against the dollar today, falling to as low as 55.07 to the dollar, tracking a weak euro ahead of the European Central Bank policy meeting.
According to some traders there was a major dollar demand from a large state-run bank as well, though no details for the demand were available..
http://profit.ndtv.com/News/Article/rupee-falls-1-at-55-07-to-us-dollar-307367?pfrom=home-otherstories
20 Replies
Today rate of rupees vs dollar i around 55.69 rs = 1 Dollar........
It has been fluctuating a lot, earlier it used to be a few paise up and down , but now the change is in rupees..In fact, forex market itself has not steadied down ...
The foreign investors are withdrawing from stock market. This is making rupee weak.
The proper remedy is to reduce our petroleum products consumption and thereby reduce imports. We have to conserve foreign exchange by discouraging imports and encouraging exports. It needs austerity in travel, vehicle movement, reduction of personal vehicles, encouraging public transport etc.
Today rate of rupees vs dollar i around 55.69 rs = 1 Dollar........
It has been fluctuating a lot, earlier it used to be a few paise up and down , but now the change is in rupees..In fact, forex market itself has not steadied down ...
The foreign investors are withdrawing from stock market. This is making rupee weak.
The proper remedy is to reduce our petroleum products consumption and thereby reduce imports. We have to conserve foreign exchange by discouraging imports and encouraging exports. It needs austerity in travel, vehicle movement, reduction of personal vehicles, encouraging public transport etc.
What you say is right, since more than 70% of crude oil is imported and we have to pay more , a weak rupee can have a negative impact on our economy ...
There is already talk about increasing the petrol and diesel prices, which is going to have an effect on everything else! Now because of deficient monsoons things are going to be really tough and inflation is bound to go up !
No doubt lesser rain will effect the rates of all eatable items this year. :evil:
Back to the thread:
Imported items are getting costlier due to it and there are lot of items for which depend on Imports. :evil:
No doubt lesser rain will effect the rates of all eatable items this year.
Back to the thread:
Imported items are getting costlier due to it and there are lot of items for which depend on Imports.
Of course Rupee can never be stronger than dollar or sterling pound or forthat any of the other stronger European currencies - few years ago rupee didnt even figure among the prominent world currencies ! :huh: ...But now with the opening up of the economy, such a thing has been made possible and Rupee has gained acceptance in the forex market !
Back to the thread:
Imported items are getting costlier due to it and there are lot of items for which depend on Imports.
This is an old story. Rupee has never been stronger than dollars and pounds. It is continuing with the same by devaluation of the money every year.
Of course Rupee can never be stronger than dollar or sterling pound or forthat any of the other stronger European currencies - few years ago rupee didnt even figure among the prominent world currencies ! :huh: ...But now with the opening up of the economy, such a thing has been made possible and Rupee has gained acceptance in the forex market !
The past weeks have seen too many up and downs in the currency market with some all time highs and lows. The Euro became very strong because of a weak dollar and reached its highest point and within a week plunged downwards because of uncertainties in the European union.With it our Rupee too has been oscillating from 55 to 53 + levels ...
Topic Author
U
usha manohar
@kiran8
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Created
Thursday, 05 July 2012 17:10
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Tuesday, 30 November -0001 00:00
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