Here’s why the Indian rupee falling

Currency

₹ vs US$

India spends more dollars to pay for its fuel needs, 80% of which is met through imports. This stress is sinking the rupee, while the country’s finances and macro-economy take a beating, in turn dragging down the currency further. Of late, global crude oil prices have been on a steady ascent, straining the India’s finances. In October, Brent crude oil prices breached the $85-per-barrel level for the first time in over four years and there are concerns that the $100-level may not be too far.

The Indian rupee impaired this week by ₹0.15 compared with previous week close

Last week Indian rupee closed at ₹73.32 with a gain of ₹0.24 paisa

This week on Friday rupee closed at ₹73.46 with loss of 0.18 paisa

Highest gain ₹0.41 on 24th Oct. 2018 and highest fall ₹0.24 on 22nd Oct. 2018

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