The fall in the rupee's value against the US dollar is showing no signs of stopping. In December, the dollar-rupee exchange rate crossed the 90 mark for the first time.
On Friday, it fell further from that level. The Indian currency dropped 24 paise on this day. As a result, the Indian currency's value against each US dollar reached 90.56. This rupee rate is the lowest so far. On Thursday, the rupee's value against the dollar was 90.32.
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Volatility in the rupee's value has persisted since the beginning of this year. The Indian currency's value has been falling consistently. At the end of the year, it has reached the edge of a precipice.
Experts have highlighted complications regarding trade agreements between America and India as one of the main reasons for the rupee's decline. Trump and Modi recently spoke over the phone. US trade representatives have also come to India for discussions. But despite this, it has not been possible to stop the rupee's fall.
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Alongside this, iForex traders report that importers' rush to buy dollars is also pushing the rupee's value to rock bottom. Foreign funds leaving the country's market have continued since the beginning of the year.
In the past few days, large amounts of foreign investment have moved away from India's market. Experts believe this is adding fuel to the fire of the rupee's decline. Rising prices of various metals in the international market are also increasing pressure on the currency.
