The continuous decline of Rupee against Dollar has now become a big economic story. Recently Rupee reached all-time low of ₹92 per dollar, and FPI selling is a big reason behind this. When foreign investors withdraw money from the Indian stock market, the demand for dollar increases and the rupee weakens. During global uncertainty, the dollar is considered a safe asset, which further increases its strength. This directly impacts middle class families. Imported goods like petrol-diesel, LPG, mobile, laptop and electronics become expensive. One has to spend more on foreign education, travel and overseas remittance. However, IT, textile and export-oriented sectors benefit from the weak rupee, thereby supporting jobs and earnings. Therefore Rupee-Dollar movement is not just market news, but a real story related to your daily life and pocket.
Rupee falls to ₹92, direct impact on middle class against dollar. Money Live | The rupee falls to ₹92 against the dollar, directly impacting the middle class.
