The beleaguered Indian rupee traded at Rs In US dollar terms, the rupee fell down to Rs Indeed, on September 3,the rupee made an intra-day low of A quick look at the 'live' Indian rupee options on the NSE and Dubai Gold and Currency Exchange on Monday January 18, suggests that a section of punters believe the rupee is set to breach that lifetime low within the first quarter of this year.

12 Places To Visit Around The World Where The Rupee Will Make You Feel Rich

According to some reports, the rupee is in danger of breaching the Rsmark against the US dollar this year, translating into a sub-Rsexchange rate against the UAE dirham.

That figure may seem surreal to a section of Indian expats who, until the previous global financial crisis, were used to remitting money at half that rate. For the record, on November 5,the Indian rupee traded at Rs Fast forward to today, and the rupee has lost more than 73 per cent of its value in nine years and a couple of months, and is likely to slip further within the next six to eight months.

It may come as news to some that the rupee started at dollar parity inwhen India achieved its independence. At that time, the rupee followed the par value system, wherein the value of rupee was pegged at 4. The first depreciation of the rupee happened inwhen its value fell overnight by almost 56 per cent to 1.

The past week saw the rupee plummet by more than 1. The Sensex is now down 6. Just one year ago, the rupee was trading at Rs From those lofty peaks last year, the rupee is weaker by almost 11 per cent while the benchmark equity index is down To be fair, there are plenty of reasons for the decline, but we list the top 5 that we believe have been and will continue to impact the rupee the most going forward.

weak rupee: Latest News & Videos, Photos about weak rupee | The Economic Times

From a deficit of 1. The government has taken a number of steps to curtail import of gold and electronics, and the recent drop in global oil prices are helping to get the ballooning CAD back under control.

In the past, the Reserve Bank of India has been known to pump the market with dollars from its reserves if the rupee depreciates violently. Investors are getting increasingly wary of the economic slowdown that seems to be spreading by the day. The only saving grace is that India is a net commodity importer and, therefore, the low global commodity prices help its finances unlike the other major emerging economies.

Lowest Currency in the World Against Indian Rupee, Countries Cheaper than India - Tripoto

The US Federal Reserve raised interest rates by a quarter percentage point in December after almost a decade of near-zero borrowing cost for US consumers. The Fed has indicated that it will be hiking the interest rate further this year on the back of a sustained US economic growth.

This is already and will continue to boost the US dollar against other global currencies, thus exacerbating the woes of emerging market currencies. When times are tough, the smart money looks for safe avenues like the greenback and bullion and tends to quit emerging markets fairly quickly. We have seen this happening over the past few months, and most analysts see this trend intensifying going forward this year. MoI launches trial phase; tracking chipset prominent feature.

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