Rupee crosses 81 against dollar for the first time, know 4 big reasons for weakening of rupee. Rupee crosses 81 against dollar for the first time, effect of US Fed hike interest rate | NewsBust Rupee crosses 81 against dollar for the first time, know 4 big reasons for weakening of rupee. Rupee crosses 81 against dollar for the first time, effect of US Fed hike interest rate | NewsBust

Business

Rupee crosses 81 against dollar for the first time, know 4 big reasons for weakening of rupee. Rupee crosses 81 against dollar for the first time, effect of US Fed hike interest rate

By Amit - September 23, 2022

feature img
  • Hindi News
  • Business
  • Rupee Crosses 81 Against Dollar For The First Time, Effect Of US Fed Hike Interest Rate

New Delhi30 minutes ago

  • copy link

The Indian rupee fell 38 paise to an all-time low of 81.24 against the US dollar in early trade today. The reason for this is the demand for dollars from importers and the increased interest rates by the US Federal Reserve.

After outperforming Asian currencies for a long time, the rupee was the biggest loser among Asian peers on Thursday. According to Bloomberg, the rupee had closed at 80.86 on Thursday and opened at 81.06 today.

The effect of raising the interest rate of the US central bank
The US central bank on Wednesday raised interest rates for the third time in a row. US Federal Reserve Chairman Jerome Powell raised interest rates by 0.75%. The interest rates have been increased to 3-3.25%. To control inflation, interest rates have been raised for the third time in a row.

Expensive to travel and study in America
A fall in the rupee means traveling and studying in America has become expensive. Suppose Indian students in America used to get 1 dollar for 50 rupees when the value of rupee was 50 against the dollar. Now for 1 dollar, students will have to spend Rs 81. Due to this, from fees to living and food and other things will become expensive.

How is the value of a currency determined?
If the value of any other currency decreases in comparison to the dollar, then it is called falling, breaking, weakening of the currency. Currency depreciation in English. Every country has a foreign currency reserve from which it conducts international transactions. The effect of decrease and increase in foreign reserves is reflected on the price of the currency.

If the dollar in India’s foreign reserve is equal to the US rupee reserves, then the value of the rupee will remain stable. If the dollar decreases with us, the rupee will weaken, if it increases, the rupee will strengthen. This is called floating rate system.

There is more news…

Amit

Related Stories

Latest Article

India

Passengers Going To The Airport In Bangalore Will Get Rid Of Traffic, Blade India Is Going To Start Helicopter Service In The City In

Updated September 2022

India

One person injured in firing at Holy Family Hospital in Delhi. Breaking News LIVE Updates | Rajasthan Delhi MP Uttar Pradesh Maharashtra Mumbai News | Coronavirus Vaccine Today Latest

Updated September 2022

India

This Baby Horse Was Stuck On A Bridge Until A Guy Come Along And Refused To Leave Him There

Updated September 2022

India

Vivek Agnihotri On Koffee With Karan 7 Says I Am Not A Sex Centerd Person

Updated September 2022

India

UP: Teacher Went Away After Locking The Classroom, The Girl Was Imprisoned Inside, Pulled Out After Hours

Updated September 2022

India

PFI Inspired To Attack Jews: NIA Official

Updated September 2022

Education

IIT Jodhpur Recruitment for 153 Non-Teaching Staff Posts, Candidates should apply by 17 October 2022. IIT Jodhpur Recruitment for 153 Non-Teaching Staff Posts, Candidates Apply by 17 October 2022

Updated September 2022

India

Seeing The Police Carrying The Tricolor, The Child Started Dancing With Joy, Got A Lovely Smile In Return!

Updated September 2022

Business

1000 kg car will run 400KM in single charge; Roof and bonnet made of cardboard. 1000 kg car will run 400KM in single charge; Roof and bonnet made of cardboard

Updated September 2022

India

Congress Considering G-23 Leader Mukul Wasnik After Ashok Gehlots Mistake

Updated September 2022

India

Police object to bail to Rankaj, threat of investigation being affected, debate again in court tomorrow. Chandigarh University VIDEO Leak Case

Updated September 2022

Business

Action will also be taken on Fake ID users of apps like WhatsApp-Telegram, one year in jail and fine of Rs 50,000. 1-year jail and Rs 50,000 fine for providing fake documents and identity to procure SIM cards or avail OTT services

Updated September 2022

Sports

Australia beat Australia by 5 wickets in Raipur; Sachin’s bat did not play, Naman’s 90-run innings. road safety cricket in raipur India Legends beat Australia Legends Team India reached the finals Sachin Tendulkar Yuvraj Singh Irfan Pathan

Updated September 2022

Education

UPSC launched the official app, download it, get all the information related to recruitment and examination. UPSC launched official app, download every information related to recruitment and examination from Google Play Store

Updated September 2022

India

KGF 2 Actor Yash Doing Gum Shooting Rocky Bhai Video Goes Viral On Social Media

Updated September 2022