Rupee hits all time low of 92.35 against dollar, know what will be the impact on your pocket and budget – ..

News India Live, Digital Desk: The ongoing geopolitical tensions in the international market and the rise in crude oil prices have broken the back of the Indian rupee. Rupee against US dollar on Monday 53 paise with a huge decline of 92.35 closed at a historic low of Rs. This is one of the biggest falls in the history of the rupee, which has created new challenges for the Indian economy.

Why did the rupee break? 3 big reasons for decline

According to experts, there are mainly three major reasons behind this record fall of the rupee:

Crude oil prices on fire: Due to the Iran-Israel conflict, the prices of Brent Crude have reached close to $ 100 per barrel. India imports most of the oil it needs, which has increased the demand for dollars.

Withdrawal of foreign investors: Amidst the ongoing heavy selling in the stock market, foreign portfolio investors (FIIs) have withdrawn large amounts of money from the Indian market.

Strength of Dollar Index: In times of global uncertainty, investors around the world are rushing towards the US dollar for safe investment, which has increased the strength of the dollar.

Market condition: Chaos as soon as it opened

Rupee in Interbank Foreign Exchange Market on Monday 92.22 But it was open. It improved slightly during trading but then continued to fall. Earlier on Friday last week, the rupee had closed at 91.82. Market experts believe that if the tension in the Middle East does not subside, the rupee will fall in the coming days. level 93 Can also cross.

What will be the impact on the common man?

Weakening of rupee simply means ‘inflation shock’.

Import will be expensive: Prices of goods in the domestic market may increase due to the cost of electronics, gadgets and crude oil.

Travel and study abroad: If your child is studying abroad or you are planning to travel abroad, now you will have to spend more money.

Petrol-Diesel Prices: Due to increase in the import bill of crude oil, the rates of petrol and diesel may increase in the future.