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Indian Currency Falls: The Indian rupee has gone to the lowest level of two months amidst a massive attack by Israel on different locations in Iran. After heavy tension in the Middle East, the International Foreign Money Exchange broke down 53 paise to 86.13 against the dollar and then fell to 86.20. It closed at 85.60 level a day earlier. Due to heavy stress in the middle East, the price of global crude oil prices and the strengthening of the dollar showed the effect on domestic currency.
Rupee broken in front of dollar
Forex traders say that the weak start of the domestic stock market and the foreign capital tremendous withdrawal has also led to a decline in local currency. On the other hand, there is a significant increase in the reason for geopolitical stress in the price of crude oil. The price of Brent crude has jumped 9.20 percent to $ 75.74 per barrel. Similarly, WTI crude is also seeing a boom and it has jumped about 9.45 percent to $ 74.74.
Israel has been named Rising Lion on Iran through military operations through which Iran is being attacked. After Iran’s attack, Israeli Defense Minister has declared it an emergency. It is being said that Hussain salute of Islamic Revolutionary Guard Corps has also been killed in the Israeli attack.
Relief on inflation front
However, it is a matter of relief that the retail inflation rate has come down to 2.82 percent in the month of May. This was 3.16 percent in the month of April. It is believed that the major reason for this decline in retail inflation is the fall in the price of food and drink.
(Tagstotranslate) Indian currency (T) Indian Rupee (T) Rupee Crash (T) Israel Iran Conflict (T) Oil Price SURGE (T) Dollar vs Rupee (T) INR FALL (T) INR FALL (T) Irani Iran Vs. Rupee (T) West Asia Crisis (T) Currency Market
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