Rupee crashes to life-time low of 69.12 against US Dollar

[BHarwana]

Mumbai, Jul 20 (ANI): The Indian Rupee (INR) on Thursday plunged at a historic all-time low of Rs 69.12 against the US dollar. The Indian Rupee had opened lower by eight paise at 68.70 per dollar on July 18. The reason behind such a fall was a fresh 52-week surge in US dollar after the Federal chief's testimony in front of the US Senate assured hikes in interest rates. The Indian Rupee’s (INR) previous all-time low against the US dollar was at 68.10 per dollar on June 28, after it closed at 68.61 on June 27. While maintaining a 19-month low, the Rupee had further depreciated owing to the increase in the international crude oil prices and trade war concern between the United States and China.

https://www.deccanchronicle.com/videos/rupee-crashes-to-life-time-low-of-6912-against-us-dollar.html

 

[Shamsher1990]

Mumbai, Jul 20 (ANI): The Indian Rupee (INR) on Thursday plunged at a historic all-time low of Rs 69.12 against the US dollar. The Indian Rupee had opened lower by eight paise at 68.70 per dollar on July 18. The reason behind such a fall was a fresh 52-week surge in US dollar after the Federal chief's testimony in front of the US Senate assured hikes in interest rates. The Indian Rupee’s (INR) previous all-time low against the US dollar was at 68.10 per dollar on June 28, after it closed at 68.61 on June 27. While maintaining a 19-month low, the Rupee had further depreciated owing to the increase in the international crude oil prices and trade war concern between the United States and China.

https://www.deccanchronicle.com/videos/rupee-crashes-to-life-time-low-of-6912-against-us-dollar.html

Old news .

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=INR

It was 68.69 last time i checked.

 

[Ultima Thule]

Mumbai, Jul 20 (ANI): The Indian Rupee (INR) on Thursday plunged at a historic all-time low of Rs 69.12 against the US dollar. The Indian Rupee had opened lower by eight paise at 68.70 per dollar on July 18. The reason behind such a fall was a fresh 52-week surge in US dollar after the Federal chief's testimony in front of the US Senate assured hikes in interest rates. The Indian Rupee’s (INR) previous all-time low against the US dollar was at 68.10 per dollar on June 28, after it closed at 68.61 on June 27. While maintaining a 19-month low, the Rupee had further depreciated owing to the increase in the international crude oil prices and trade war concern between the United States and China.

https://www.deccanchronicle.com/videos/rupee-crashes-to-life-time-low-of-6912-against-us-dollar.html

As compare Pakistani rupees this worth nothing to talk @BHarwana

 

[BHarwana]

Old news .

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=INR

It was 68.69 last time i checked.

No not old news bro just few days ago the rupee is crashing hard. This is the best time for India to buy dollar as Indian rupee will further fall on August 6th I have 100% confirmation on that.

 

[Ultima Thule]

No not old news bro just few days ago the rupee is crashing hard. This is the best time for India to buy dollar as Indian rupee will further fall on August 6th I have 100% confirmation on that.

Take care pakistani ruppes first that degrade/insult Other country @BHarwana

 

[Shamsher1990]

No not old news bro just few days ago the rupee is crashing hard. This is the best time for India to buy dollar as Indian rupee will further fall on August 6th I have 100% confirmation on that.

Bro, You do know if India buys more dollars, INR will go down even further, right? Demand and Supply?

 

[BHarwana]

Take care pakistani ruppes first that degrade/insult Other country @BHarwana

I am not insulting any one just discussing economy with my neighbours. How is this insulting. I am 100% sure dollar will appreciate in India on August 6th

This is Indian section cannot discus Pakistani currency here. That discussion is already going on in Pakistan section.

Bro, You do know if India buys more dollars, INR will go down even further, right? Demand and Supply?

Yes but I am advising a short term profit for local Indian investors here. My market study tells me INR will fall on August 6th.

 

[Shamsher1990]

Yes but I am advising a short term profit for local Indian investors here. My market study tells me INR will fall on August 6th.

A better idea will be to buy Forex options if you just want to bet on the crash, you get leverage with a finite commitment. Or if you are very very sure, enter in a forward agreement or get INR/USD futures.

@Nilgiri Any comments?

 

[BHarwana]

A better idea will be to buy Forex options if you just want to bet on the crash, you get leverage with a finite commitment. Or if you are very very sure, enter in a forward agreement or get INR/USD futures.

@Nilgiri Any comments?

Here is my prediction if Indian govt is not going to bring in artificial support to INR it will hit 73.50 plus on August 6th.

 

[Skull and Bones]

Rupee depreciates every year around this time for a large number of Indians families buy forex to send their kids abroad for studies.

 

[Shamsher1990]

Here is my prediction if Indian govt is not going to bring in artificial support to INR it will hit 73.50 plus on August 6th.

Well, from what I have seen, RBI usually dumps a bunch of USD and/or contracts and it stabilizes INR.

 

[BHarwana]

Rupee depreciates every year around this time for a large number of Indians families buy forex to send their kids abroad for studies.

Nope this time it is an economical problem which will depreciate the rupee. Watch August 6th if Indian govt don't gives support rupee will keep on to depreciate

 

[Skull and Bones]

Nope this time it is an economical problem which will depreciate the rupee. Watch August 6th if Indian govt don't gives support rupee will keep on to depreciate

Forex is already more than 400 billion USD to arrest any fall. Moreover, I’m a market value supporter for the currency.

 

[BHarwana]

Well, from what I have seen, RBI usually dumps a bunch of USD and/or contracts and it stabilizes INR.

This is called artificial support which I said would be necessary for govt to give.

Forex is already more than 400 billion USD to arrest any fall. Moreover, I’m a market value supporter for the currency.

This fall will be because of indian growth halting in the next month. India will have to purchase more dollars from the market this will shoot up the dollar price. The stock market will also crash and inflation will hit economy due to rising fuel cost. India will deplete foreign reserves to support economy. This whole will start in August and will continue till November where it will get intense. This all will happen because of USA.

 

[Skull and Bones]

This fall will be because of indian growth halting in the next month. India will have to purchase more dollars from the market this will shoot up the dollar price. The stock market will also crash and inflation will hit economy due to rising fuel cost. India will deplete foreign reserves to support economy. This whole will start in August and will continue till November where it will get intense. This all will happen because of USA.

What if it doesn’t happen?