The pressure on the currency has increased due to the introduction of a new 25% tariff for Indian goods.
The Indian Rupe has completed the fifth week of autumn, fixing the largest decline in the past six months. Reuters reported this Friday, August 8th.
Rupia’s money exchange rate is closed with a slight increase in levels of 87.6550 per United States dollar compared to 87.7025 on Thursday. Increasing demand for the dollar, mainly from oil imports, after the initial minimums pushed USD/INR.
According to Sunday results, Rupe lost 0.1% of the cost, after dropping 1.2% last week, and reduced nearly 3% over the past five weeks.
Indian currency pressure has increased due to Indian position in countries that have suffered most US trade policy, especially due to the new 25% of the tariff for Indian goods.
The threat of achieving a low level of Rupeia forced India to intervene almost day to prevent further fall.
Market participants expect an additional reduction in foreign exchange reserves, which in one week has been reduced by more than $ 9 billion. At the same time, some of the experts express hope of reaching an agreement in the near future.
Remember that in February, the US dollar in Indian Rupia for the first time in history exceeded 87 Rupees for $ 1 against the back of Asian money and sharing after President Donald Trump introduced duties of importing against Canada, Mexico and China.
In early August, against the back of Trump’s threats to strengthen tariffs for Indian goods, Rupepa fell to a minimum.
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Source: korrespondent
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