The situation has become extremely tense after the horrific attacks on Iranian cities by America and Israel. In response to this, Iran has also started operation named ‘Fatah-e-Khyber’. This conflict is going to have a direct impact on the pockets of the common Indian. The Hormuz route, the main route for supply of crude oil across the world, is now in great danger.
If the tension between these two countries continues to increase like this, then the prices of crude oil in the international market will increase like a rocket. India buys most of its oil needs from the Middle East. The increase in oil prices directly means that petrol and diesel will become extremely expensive in the country, due to which the prices of everything of common need will increase.
The rise in crude oil prices will not be limited to petrol pumps only. Its deep impact will be seen on the entire economy of India. Due to costlier imports, pressure on the Indian currency will increase. Whenever the situation worsens in the Middle East, the developing countries have to bear the brunt of it. In such a situation, it is important to understand where our currency stands in the countries where war is going on.
Indian rupee is very strong in front of Iran
If we compare currency, India’s position is very strong compared to Iran. The official currency of Iran is Iranian Rial, whose value is very low in the international market. According to current data, only one rupee of India is equal to approximately 463 riyals of Iran. .
This huge difference can be understood with a simple example. If an Indian person travels to Iran today, he will get around 46300 Iranian Rials in exchange of his Rs 100. At the same time, if one thousand rupees are converted into Iranian currency, then this amount will become 463000 Rials.
Where is the rupee compared to the Israeli currency new shekel?
On the other hand, the picture of Israel’s economic condition and its currency is completely different. The name of Israel’s currency is New Shekel, which is much stronger than the Indian Rupee. According to the current exchange rate, an Indian has to spend approximately Rs 29 to buy one Israeli New Shekel. The economy of Israel, which is considered very close to America, is very strong.
If a person goes to Israel and gets his Indian rupees converted into the currency there, he may be disappointed. By spending 100 Indian Rupees he will get only 3.44 Israeli New Shekels. Similarly, if someone goes to exchange Rs 1000, he will get only 34.48 Israeli New Shekels in his hands.