28 June :- The rupee has weakened against the dollar. Indian currency has reached the lowest level ever since Thursday. The rupee opened 28 paise lower at 68.89 against the dollar. After that, the rupee reached the lowest level of 69.09.
Then there is some improvement in the rupee. Now the rupee is stable at 68.82. On 24th November 2016, the rupee reached 68.86. The downside of this low level rupee rupee rupee today. Crude oil prices in the international oil market are likely to increase, and the rupee has fallen in comparison to the dollar due to inflation and fiscal deficit. The rupee closed at 68.61 on Wednesday.
Demand for consistently dollar from banks and importers is increasing. The dollar’s demand for oil prices, especially oil prices, is particularly high. So the pressure on rupee has increased. The United States has asked its Allies to finish buying oil from Iran by November, so oil prices in international oil market are on the rise.
Both the rising oil prices and the rupee depreciation are double to the Indian economy. Challenges in the face of rupee fall are becoming increasingly difficult. There is also an increase in fiscal deficit.