Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Rupee edges closer to 80 per US dollar, here is how it can impact you.


Date: 15-07-2022
Subject: Rupee edges closer to 80 per US dollar, here is how it can impact you
A blowout inflation print from the US and the prospect of a recession have analysts in a tense huddle over the Indian National Rupee's (INR) descent.

CPI inflation in the US came in at 9.1% in June, higher than a consensus estimate of 8.8%. Following the hot reading, analysts are now betting that the Federal Reserve may hike by a full point later this month following its larger-than-usual move in June.

Analysts fear that a slowdown in the world’s biggest economy is bound to exacerbate the pressure from outflows. The Rupee has already fallen over 6.5% this year amid fears of a global recession and deteriorating external balances fuel outflows.

The Indian rupee hit a record low against the dollar for a fourth straight session. While the Reserve Bank of India (RBI) has taken measures to reduce the slide, traders and strategists expect the Rupee to touch levels of 80 to the dollar in the near future

India being an import-dependant country, could feel the heat of a falling Rupee in an inflationary environment as it stands to further impact the spending decisions of households. Concerns around inflation have impacted expectations and as such, the second-round effects would prolong the pricing pressures.

As payments for imports are made in dollar terms, a weaker Rupee would drive up the price of importing goods.

Overall, a weaker Rupee might just give an impetus to inflation in the short term. Be it electronics, or packed food items (where oil is needed), consumers will have to shell out that much more for products which are imported either in whole or just their components.

Those remitting money abroad from India will have to spend more as the Dollar strengthens and the Rupee weakens. The US $ has pushed higher and is currently hovering around the highest level in over two years.

Studying abroad is set to get expensive as well as the fee amount is bound to increase post-conversion.
Source Name:-Economic Times

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 19-01-2023
Notification No. 05/2023 - Customs (N.T.)
Exchange rate Notification No. 05/2023-Cus (NT) dated 19.1.2023.

Date: 16-01-2023
Notification No. 04/2023-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to reduce the Special Additional Excise Duty on Diesel.

Date: 16-01-2023
Notification No. 03/2023-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude and export of Aviation turbine Fuel.

Date: 13-01-2023
Notification No. 01 /2023–Customs
seeks to exempt COVID -19 vaccines from basic Custom duty till 31st March, 2023

Date: 13-01-2023
Notification No. 04/2023-CUSTOMS (N.T.
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 11-01-2023
NOTIFICATION No. 03/2023-Customs (N.T.)
Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023- Reg.

Date: 06-01-2023
Notification No. 01/2023-Customs (ADD)
Seeks to extend levy of ADD on Fishing Net originating in or exported from China PR

Date: 05-01-2023
Notification No. 02/2023 - Customs (N.T.)
Exchange rate Notification No. 02/2023-Cus (NT) dated 5.1.2023-reg

Date: 04-01-2023
NOTIFICATION No 01/2023-Central Tax
To assign powers of Superintendent of central tax to Additional Assistant Directors in DGGI, DGGST and DG Audit.

Date: 02-01-2023
Notification No. 02/2023-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to modify the Special Additional Excise Duty on Diesel



Exim Guru Copyright © 1999-2023 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001