Indian rupee has seen some of its toughest time in recent past. Rupee has lost 13 per cent this year itself and most of it has been in last few weeks or months. Till some time back RBI was saying that currency quotes are controlled by currency trading in India. But now fear is growing among corporate India. The way rupee is weakening, it doesn’t look like that it is going to stop in near term.
Currency future in India is very important for companies which deals in Import of goods and material. Companies like oil companies are currently going through lot of pain as week Rupee is adding pressure on them. Currency future in India is traded at exchange market and mcx currency futures is currently moving in favor of US Dollars.
Currency future in India is extremely important as there are lot of companies which deals in import and export and there has to be a balance so that none are negatively impacted. Companies involved in Export services like IT companies may have little fun in the short run but weak Rupee is definitly a reason to worry for economist.
Currency future in India is influenced by the flow of foreign currency in Indian market and other economical factors like economical growth of the country etc. Current account deficit, weak capital flows and economical slow down are considered to be the primary reason behind rupee weakening.
Indian Currency rate have been falling consistently and there are no sign of improvement in the near future. Dollar rate in Indian currency reached 50.17 on friday. And this fall has been really sharp. Finance minister met Reserve bank of India’s Governer to discuss the issue.
Plastic currency in India has been adding inflationary pressure which is highly negative for corporate India as well as common people and now this weakening rupee is further adding fuel to the fire.
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