Rupee Plunges to Historic Low of 86.62 Against US Dollar

The Indian rupee experienced its steepest single-day decline in nearly two years, falling 58 paise to close at a record low of 86.62 against the US dollar on January 13, 2025.

Key factors contributing to this depreciation include:

  • Surging Crude Oil Prices: Brent crude rose by 1.44% to $80.91 per barrel, increasing India's import bill and exerting pressure on the rupee.

  • Robust US Economic Data: Stronger-than-expected US job growth has bolstered the dollar, leading to a broader selloff in Asian currencies.

  • Foreign Institutional Investor (FII) Outflows: Significant withdrawals by FIIs from Indian equities have further weakened the rupee.

  • Diminishing Forex Reserves: India's foreign exchange reserves have declined for the fifth consecutive week, reaching a 10-month low of $634.59 billion as of January 3, limiting the Reserve Bank of India's capacity to intervene effectively.

Comments

Post a Comment

Popular posts from this blog

Gaming Industry Bigger Than Film & Music Combined

Image
In 2023, the  global gaming industry reached a staggering $396.2 billion , compared to the  film industry's $283.5 billion  and the  music industry's $69.2 billion Revenue Rampage: In 2023, the global gaming industry reached a staggering $396.2 billion, compared to the film industry's $283.5 billion and the music industry's $69.2 billion. That's more than the film and music industries combined! The gaming audience is massive and ever-growing, with over 3 billion players worldwide. This dedicated fanbase fuels the industry's success, spending billions on games, hardware, and in-game purchases. The rise of mobile gaming has been a major game-changer. Smartphones have become powerful gaming devices, making gaming accessible to anyone, anywhere. The mobile gaming market alone is expected to reach $116 billion by 2025. Additional Facts: The average gamer is 35 years old. The most popular video game genre is adventure. The best-selling video game of all time is Grand ...
Read more

Major Changes In Physical Education Syllabus For Class 12 2023-2024!

Image
The syllabus for class 12 physical education was changed for the session 2023-2024. New topics were added in every chapter.  Many students are still following the old syllabus . Many books have not been updated till now. The highlighted topics have been added by CBSE . So students are advised to study these topics also. The highlighted topics have been added by CBSE: Unit 1: Management of Sporting Events 1. Functions of Sports Events Management 2. Various Committees & their Responsibilities 3. Fixtures and Procedures 4. Intramural & Extramural Tournaments 5. Community Sports Program Unit 2: Children & Women in Sports 1. Exercise guidelines of WHO for different age groups 2. Women’s participation in Sports:    - Physical, Psychological, and social benefits 2. Common postural deformities and corrective measures 3. Female athlete triad (osteoporosis, amenorrhea, eating disorders) 4. Special considerations:    - Menarche and menstrual dysfunct...
Read more