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Rupee Downward Spiral Continues | Indian Currency Hovering Close To Rs 80/Dollar | Mirror Now
Posted
July 20, 2022
Views
93
July 20, 2022
93
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15:00Now PlayingRupee's downward spiral continues. Indian currency hovering close to Rs 80/Dollar. High dollar demand from oil importers in the midst of increasing crude oil prices and worry of swelling trade deficit has also been the reason behind. The Indian currency has fallen by over 7% since January 2022. Even though the rupee has devalued against the Dollar, it has gained value against other currencies such as the euro and the Japenese Yen. “Global factors such as the Russia-Ukraine conflict, soaring crude oil prices, and tightening of global financial conditions are the major reasons for the weakening of the Indian rupee against the US dollar,” says Union Finance Minister Nirmala Sitharaman. Watch to know more!
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