On the last trading day of April, when the currency market was closed, the rupee was trading below 85 in the dollar. This was the period when Trump gave relief from the tariff and postponed the case for 90 days. GST figures were quite well seen. In the same month, the RBI had reduced a lot of relief by cutting the interest rates of 50 basis points. When the month of May started. Since then, the bad time of the rupee started. The rupee has not recovered since a monthly decline of more than one rupee in May.
Even though there is a fall of 21 paise in June, but in the month of July, there has been a decline of 40 paise. The special thing is that in 80 days, so far, the rupee has seen a decline of about 2 rupees in the rupee against the dollar. It seems that the rupee may see a decline in the third consecutive month against the dollar. Let us also tell you what kind of decline has been seen in the dollar and rupee.
Rupee falling in July too
In the month of July, there has been a decline in the rupee so far. If we look at the data, in July, there has been a decline of 36 paise in the rupee against the rupee. The rupee was seen at the level of 85.76 on the last trading day of June. Which closed at Rs 86.16 on 18 July. This means that the rupee has seen a decline of 40 paise so far. According to experts, due to the selling of foreign investors, the increase in crude oil prices and the increase in the dollar index, there is a steady decline in the rupee. According to experts, in the coming days, there can be a further decline in the rupee. So far, there has not been a trade deal between America and India. At the same time, Trump threat to put 10 percent tariff on BRICS countries can also damage India’s currency.
How much decline was declined in May and June
If we talk about May and June, then there was a huge decline in the rupee against the dollar. Talking about May first, according to the data, there was a decline of more than one percent. The rupee was at the level of 84.54 in the last business dollar of April, which was seen at the level of 85.55 on the last trading day of May. This means that the rupee saw a decline of Rs 1.01 against the dollar. Which was a big decline. Whereas in the month of June, the rupee came to the level of 85.76 against the dollar. This means that the rupee saw a decline of 21 paise against the dollar.
How much money drowned in about 80 days
The special thing is that in about 80 days, the rupee has lost more than 1.60 percent in the dollar. By the end of April, the rupee level was at 84.54 in the dollar, which came down to 86.16 level on 18 July. This means that the rupee saw a decline of Rs 1.62. This means that during this time, the rupee has seen a decline of about 2 percent against the dollar. This means that the speed which was seen in the month of March has been equal due to these 80 days fall. According to experts, the rupee can live between 86 and 87 in the next 6 months.