What Does Rupee Plunging To 80 A Dollar Mean For You: Key Highlights
NDTV
The rupee hit 80 per dollar for the first time ever on Tuesday; what does that mean for you?
The rupee hit 80 per dollar for the first time ever on Tuesday, after breaching a series of all-time lows and weakening by over 7 per cent this year from about 74 at the start of 2022, tracking a rampant greenback.
What Does That Rapid Rupee Weakening Mean For You? Here Is Your 5-Point Key Highlights:
Higher Costs Of Imports: A weaker currency makes international purchases more expensive as you need to pay more rupees for the same product than you did previously. For example, if you were getting a foreign product for $1 in January, then you had to pay 74 rupees back then. But with the Indian currency weakening to 80 per dollar, you would not need to pay 80 rupees for the same product. The current trend suggests prices of foreign goods could rise further on expectations of more rupee weakening ahead.
