Monday, September 3, 2018

WHY SHOULD RUPEE KEEP ON WEAKENING?

WEAK RUPEE- WHY IT IS Rs.71/- AGAINST DOLLAR?

The Indian Rupee is presently quoting Rs.71/- against US Dollar.It helps
the Exporters,NRI's and Indians Living abroad.But a weak Rupee is a
Bane for the people living in the country.Is it due to mishandling or a
deliberate move to keep the rupee weak so that the exporters ,NRI's 
benefit?.India is importing 85% of its fuel requirements and a weak
rupee is affecting the resident Indians as the fuel prices are surging to 
new heights.

I give below how Rupee is valued against small Asian  countries :( One Unit)
1.Malaysian Ringit                  : Rs.17.25
2.Singapore Dollar                  : Rs.51.88
3.Maldivian Rufiaa                 : Rs.4.60
4.Philippine Peso                    :Rs.1.33
5.Thailand Baht                     :Rs.2.74
6.Taiwanese Dollar                : Rs.2.31.

Against Mauritian Rupee ( One Unit) It is Rs.2.06.
Against Seychelles Rupee (One Unit)  It is Rs.5.23.
Against Ghana Cedi   ( One Unit)       It is Rs.14.85.

It is reported that India is going to be the third largest Economy,with its
vast size,Big Consumer market,one wonders why the Indian Rupee should
keep on becoming weak.Internationally,a currency tells the economic
condition of the country. Is weak rupee benefiting only the rich ?.

                  

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