Rupee plunging a new low

  • June 30, 2022
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
No Comments

 

 

Rupee plunging a new low

Subject :Economy

Section :External Sector

Context:

The rupee plunged to a new low past 79 against the dollar on persistent demand for the U.S. currency, from oil refiners needing to settle their rising crude import bills, and foreign portfolio investors who continue to withdraw capital from Indian equity and debt

Content:

Causes for fall of rupee:

  1. FPI pull out
  2. Strengthening of dollar
  3. Rising crude prices
  4. Deteriorating trade balance
economy Rupee plunging a new low