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News Desk: Record fall in Indian rupee. On Tuesday, the value of one US dollar in Indian currency stood at Rs 77.73, which is still the lowest.
According to sources, Russia-Ukraine war, new lockdown in China has affected the price of money. Foreign exchange traders say crude oil prices have risen in the international market. The demand for dollars for oil imports is increasing. The fluctuating price of crude oil in foreign markets has had such an impact on the Indian rupee. In addition, the US Federal Reserve raised their interest rates last week to curb inflation. As a result, foreign investors are unable to invest the surplus money in the Indian market. On the contrary, they are selling shares in wartime situations.
The Reserve Bank of India has raised the repo rate after a long hiatus to cope with inflation and it has affected the share market. Other banks in the country have been raising interest rates since the RBI raised the repo rate. As a result, the supply of money to investors is declining. In addition, domestic investors are reluctant to invest in war situations.
