The process of falling of rupee against the dollar has not started only in the year 2024, but it has been continuing for the last decade. In 10 years, the rupee has fallen by 28 percent against the value of dollar and by 3 percent in the last one year. Now politics has also started on the fall of rupee. With the fall of rupee to such an extent, there is a possibility of slowdown in economic development as well.
Rupee reached all time low on 27 December
The rupee had reached an all-time low of Rs 85.59 per dollar on 27 December. Which was 3% below the level of Rs 83.19 per dollar on 1 January this year. This fall in the value of rupee on 27 December was at a record level in the last two months. Even in single day decline, it was the highest in two years. It was surprising that the value of one dollar exceeded Rs 84 on 10 October.
On December 19, it gave a big shock by crossing 85 and on December 27, the value of one dollar in intraday trading became equal to Rs 85 80 paise for some time. According to a report by Economic Times, analysts estimate that in 2025, the value of one dollar will fluctuate between Rs 83 and Rs 87.
On May 16, 2014, the value of one dollar was 58 rupees 58 paise
According to a report published in the Times of India in April 2024, the value of rupee has fallen by 28 percent against the dollar in the last 10 years. This is the situation when the value of Rs 60 per dollar is compared with Rs 83 31 paise per dollar in April. If we compare it with Rs 85 59 paise per dollar of December 27, then the figure goes beyond 46 percent.
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