The Indian currency again fell to Rs. 72 against the U. S., dollar. The Indian Rupee hit an all time low this morning. It is assumed that the reason behind the continuous fall is the persistent global headwinds and concern of macroeconomic front. The domestic currency is now trading with 37 paise lower at Rs. 72.12 against the U. S., dollar.
The Reserve Bank Of India (RBI) is involved in the Foreign Exchange Market. It is said that RBI may have sold dollars at Rs. 71.80 in the local FOREX market which caused the intense fall of the Indian currency.
The Finance Minister Arun Jaitley at a press conference supported the actions of the RBI and said, “The RBI is doing whatever is necessary. I don’t think there is any need for the world’s fastest growing economy to come out with panic and knee jerk reaction.” He further added that there are no domestic reasons but global reasons.
At the press conference, when asked about the frequent fall of the Indian currency, Mr. Jaitley said, “The currency has either consistently strengthened or remained in a rage, not weakened.” According to sources, U. S., President Donald Trump will take up trade issues next with Japan.
The fall has resulted in a positive aspect of the crude oil prices for India. Whereas the Bombay Stock Exchange (BSE) Sensex is hardly affected. The falling is of 61.11 points or 0.16% to 37,957.20 points in this afternoon trade.
