Dollars to Rupees exchanges have been going up for sometime now. From a level of 44 rupee has fallen to a level more above 52 against US Dollars in the last few months. Dollars to rupees exchange is very critical for Indians. A weak rupee indicates slow down in economy and therefore investors especially foreign investors are withdrawing their funds from Indian Stock Market.
Dollars to Rupees is also important because a high dollar at time may encourage foreign investors to put more dollars in Indian stock market as high currency rate may help them in getting more fund in Indian Rupees in India. But things are different at the moment. Inflation is high, news of scams and controversies are more often than ever before and there are clear visible sign of slow down in short term in Indian Economy.
Dollars to Rupees exchange rate depend upon lot of factor but at the moment reason seems to be the instability in the global economy and investor’s trust in Dollars. Investors across the globe are pumping their money in Dollar and withdrawing funds from emerging economies like India. USDINR conversion touches many lives in India. Stock market have fallen more than 500 points in one day and this is going to further damage the investors sentiment.
But everyone is not at received end, NRIs who sends billion of dollars every year, are happy to get high conversion rate. Rupee touched a record of 52.73 on Tuesday. Experts believe the current trend to stay for some more time and there are few analyst who are indicating that Rupee may even touch levels of 55. Exporters are having good time because they are currently getting high conversion rates on their earned dollars and other major foreign currencies.
There are other currencies where the exchanges rates have gone up like British pound currently stands at Rs 81 and Euro is touching Rs 70.19. These rates will also go up if there is further deterioration in the economical situation.
Dollars to Rupees conversion touch the many aspect in Indian Society and Economy.
About akhilendra
Speak Your Mind