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The biggest fall in the rupee in 20 months, know its major causes and effects

After 5 August 2019, the biggest fall in the rupee has been recorded today.

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Today, the rupee has depreciated against the dollar in 20 months. Today, the rupee fell by 105 paise to close at 74.47 against the dollar. Corona cases are increasing rapidly in the country due to which local lockdowns are being imposed. Curfews are being imposed in many states including Maharashtra, Punjab. After 5 August 2019, the biggest fall in the rupee has been recorded today.

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repo rate

At this time, the dollar was trading at a low of 92.28 on the Dollar Index showing the position of the dollar against the six major currencies of the world. Meanwhile, the Reserve Bank of India announced a policy review on Wednesday, and decided to keep the policy rates unchanged for the fifth consecutive time. The Reserve Bank has kept its policy repo rate unchanged at four per cent but cautioned that the recent spurt in events of COVID-19 has led to uncertainties in terms of economic growth.

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Share Market Today

The market was happy with the decision of RBI and closed for the second consecutive day in the week. The 30-share index Sensex gained 460 points and closed at the level of 49661 and the Nifty gained 135 points to 14819. Today, the total market cap of BSE listed companies has increased to Rs 208.24 lakh crore. On Tuesday, it was Rs 206.35 lakh crore. In this way, the wealth of investors increased by Rs 1.90 lakh crore today. According to the stock exchange data, foreign institutional investors were net sellers in the capital market where they sold shares worth Rs 1,092.75 crore on Tuesday.

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Gold Price Image 3

Here the trend of gold and silver (Gold-Silver Rate) prices continues. Gold and silver became expensive in the domestic market due to the weakness in the rupee. On Wednesday, there was a strong jump in the gold price in the Delhi bullion market. The price of 10 grams of gold has increased by 587 rupees. Silver gained pace like gold. The price of one kilogram of silver (Silver Price) increased by 682 rupees. On Wednesday, the price of gold in Delhi bullion market rose by Rs 587 to Rs 45,768 per 10 grams. The price of one kg silver rose by Rs 682 to Rs 65,468.

Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.

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