English हिन्दी
Connect with us

India News

Amid Russia Ukraine war, Indian rupee declines to an all-time low against US dollar: How does US Dollar determine the value of Indian currency? All you need to know

India is one such country that is primarily affected by Russia’s invasion of Ukraine. The Indian rupee fell to a record lifetime low of 76.97 against the US dollar.

Published

on

India is on the path to becoming the world's leading consumption economy, as household growth, tax reforms, and a booming Gen Z population fuel discretionary spending.

The ongoing Russia Ukraine war has not impacted just these two countries’ GDP but also affected the economy globally. India is one such country that is primarily affected by Russia’s invasion of Ukraine. The value of the Indian currency has declined to an all-time low.

The Indian rupee fell to a record lifetime low of 76.97 against the US dollar. It’s due to a significant increase in international crude oil prices, which has threatened to raise imported inflation and deepen the country’s trade and current account deficit.

Global crude oil prices were nearing record highs after reports said that the US and its European allies are considering barring Russian oil imports in response to the country’s invasion of Ukraine. Brent crude oil hit a high of USD 139.13 per barrel, before easing a bit.

Which is the most powerful currency in the world and how does it determine the value of other currencies?

US dollar is the most powerful currency in the world. All the trading in the world is done in US dollars. Each country has its own currency and its value is determined by the economic concept of Demand and Supply.

Read Also: Russia Ukraine War Live Updates: Russia attacks evacuation bus, three wounded, claims Ukraine

The value of a currency that is in higher demand has a higher value. The value of a currency is determined by economic factors such as trade, inflation, employment, interest rates, growth rate, and geopolitical situations.

The concept of currency fluctuation is part of the larger Foreign exchange market.

What is Foreign Exchange Market?

The Foreign Exchange Market is mainly a global market for currency trading. One currency is exchanged for another at a particular rate. The rate at which two particular currencies are exchanged is called the exchange rate.

The value of one country’s currency in relation to another country’s currency is known as the exchange rate.

How does US Dollar determine the value of Indian currency?

The US dollar is in high demand because India imports more goods from the US than it exports. The demand for the US dollar will rise in this situation because more dollars will be paid to the US while purchasing products from them.

To pay for these goods, more dollars will have to be purchased on the foreign exchange market in India. As a result, demand for US dollars will rise compared to the Indian rupee, boosting their value.

Read Also: Russia Ukraine War: These pictures of Ukrainian children caught in midst of war will break your heart

However, if the Indian Rupee’s value plummets dramatically, the government will step in. They will aim to decrease the supply of Indian rupees immediately to compensate for the low demand. They will purchase the Indian rupee on the market with US dollar reserves. As it buys more Indian currency with US dollars, the supply of Indian currency falls while the supply of US money rises, resulting in an increase in the rupee’s value and a reduction in the dollar’s value.

If the oil prices keep increasing at this rapid rate then the Indian currency could head towards 79 per dollar soon.

https://www.facebook.com/watch/?extid=NS-UNK-UNK-UNK-IOS_GK0T-GK1C&v=1124262888399116

Russia Ukraine War Live Updates: Russian military action will stop in a moment is Ukraine meets conditions, says Kremlin

India News

Farm loan waiver: Eknath Shinde says Maharashtra govt committed to fulfilling all poll promises, day after Ajit Pawar’s state’s financial constraints remark

His statements came shortly after Deputy Chief Minister and Finance Minister Ajit Pawar had remarked on the necessity for farmers to manage their finances effectively rather than wait for potential relief from loan waivers.

Published

on

Maharashtra’s Deputy Chief Minister Eknath Shinde said on Saturday that the government is committed to fulfilling every promise made in its election manifesto, a day after a controversial remark by his cabinet colleague, Ajit Pawar, who suggested that farmers should not expect a waiver on crop loans and should instead pay their dues on time due to the state’s financial limitations.

Shinde emphasized the importance of maintaining a balanced state budget, asserting that there should be sufficient funding for welfare programs, development projects, and employee salaries.

He announced plans to increase the monthly aid for women under the Ladki Bahin Yojana from ₹1,500 to ₹2,100, contingent on the improvement of the state’s financial situation.

His statements came shortly after Deputy Chief Minister and Finance Minister Ajit Pawar had remarked on the necessity for farmers to manage their finances effectively rather than wait for potential relief from loan waivers.

“We will honor every commitment stated in our manifesto. No promise will be ignored, and we will never consider it a mistake in printing,” Shinde, who is also the leader of Shiv Sena, told reporters when responding to inquiries about Pawar’s comments.

While visiting the samadhi of Chhatrapati Sambhaji Maharaj in Vadhu, Pune district, on the anniversary of his death, Shinde reiterated the government’s ongoing support for agriculture over the last two and a half years.

He noted that the government had provided ₹16,000 crore in relief for farmers suffering from crop damage due to unseasonal rains.

He also pointed out the allocation of ₹45,000 crore for related agricultural initiatives and mentioned current programs like the Shetkari Samman Yojana and Crop Insurance Scheme, underscoring the government’s dedication to the agricultural sector.

In response to questions about the planned increase in aid under the Ladki Bahin Yojana, Shinde assured that “as soon as the state’s economic conditions improve, our sisters will receive ₹2,100. We will keep our promises.”

Moreover, he emphasized the need for funding across all areas, including welfare initiatives, development, and personnel wages. He expressed confidence that enhanced investments would strengthen the state’s financial position.

Defending the Saugat-e-Modi scheme against opposition criticisms, Shinde highlighted that programs initiated by the Prime Minister have successfully lifted 35 crore individuals out of poverty and provided free rations to 80 crore people across various communities.

Continue Reading

India News

India launches Operation Brahma, sends 80 NDRF personnel to quake-hit Myanmar

“Rescue dogs trained in detecting survivors under debris are also part of the mission,” an official said, adding that operations will follow protocols of the International Search and Rescue Advisory Group (INSARAG).

Published

on

India is dispatching an 80-member National Disaster Response Force (NDRF) team to assist in relief operations following a powerful earthquake that struck Myanmar and Thailand on Friday. The disaster has claimed over 1,000 lives in Myanmar, with rescue workers struggling to reach survivors trapped under collapsed buildings.

Under Operation Brahma, the NDRF contingent is being airlifted from Hindon Airbase in Ghaziabad aboard two Indian Air Force (IAF) aircraft. The team, led by Commandant P.K. Tiwary of the 8th NDRF Battalion, includes specialized urban search and rescue (USAR) personnel equipped with concrete cutters, drilling machines, and seismic listening devices.

“Rescue dogs trained in detecting survivors under debris are also part of the mission,” an official said, adding that operations will follow protocols of the International Search and Rescue Advisory Group (INSARAG).

In addition to manpower, India has airlifted 15 tonnes of emergency relief supplies to Yangon aboard an IAF C-130J transport aircraft. Prime Minister Narendra Modi expressed solidarity with Myanmar, stating, “India stands ready to provide all possible assistance to our neighboring nation in this hour of crisis.”

In Mandalay, Myanmar’s cultural capital, devastation is widespread. A 7.7-magnitude quake—shallow and destructive—flattened buildings, including the 12-story Sky Villa Condominium, now halved in height with nearly 100 residents feared trapped.

Exhausted local rescuers scrambled through rubble, with time running out. At one site, a monastery’s collapsed clock tower bore silent witness, its hands frozen at 12:55 PM—minutes after the quake struck.

This marks India’s third major overseas NDRF deployment, following the 2015 Nepal earthquake and 2023 Türkiye-Syria quake. 

China is set to offer Myanmar aid valued at 100 million yuan (approximately $13.77 million) following a devastating earthquake that claimed over 1,000 lives, as announced by its embassy on Saturday, March 29.

This assistance will consist of tents, blankets, emergency medical kits, food, water, and other vital supplies, with the initial shipment scheduled to arrive on March 31, according to a post on the Chinese embassy’s Facebook page.

Continue Reading

India News

Mumbai Indians vs Gujarat Titans: Hardik Pandya’s comeback and Jos Buttler’s role in focus after opening losses

Gujarat Titans and Mumbai Indians face off in IPL 2025, both looking to bounce back from opening defeats. Hardik Pandya returns to boost MI’s chances.

Published

on

Hardik Pandya

Mumbai Indians and Gujarat Titans, both coming from their opening losses, are set to lock horn against each other at Gujarat’s Narendra Modi stadium Stadium on Saturday. The statake of both the teams would be really high as when they took to the field as they aim to avoid a second consecutive loss and stay competitive in the league standings.

Mumbai Indians, despite a fighting debut from Vignesh Puthur, fell short against Chennai Super Kings in their tournament opener. While Gujarat Titans found themselves outplayed, with their bowling exposed by Shreyas Iyer and Shashank Singh. Their batting, though promising in the chase, faltered under pressure at a critical stage.

Adding intrigue to this matchup is the return of Hardik Pandya to the Mumbai Indians playing XI. The former GT captain, who led them to their title triumph in 2022, is back after serving a suspension. His inclusion is expected to bring balance to the side with both bat and ball, potentially replacing Satyanarayana Raju in the XI. Mumbai may also consider rotating their overseas picks, with options open to drop either Ryan Rickelton or Will Jacks to strengthen their bowling attack.

Gujarat Titans, on the other hand, may rethink their middle-order strategy. The exclusion of Glenn Phillips in the first match raised eyebrows, especially with the middle-order failing to capitalize. Phillips could slot in at No. 4, offering explosive batting, a handy bowling option, and exceptional fielding. However, Sherfane Rutherford’s impactful 46(28) might make the selection call a tough one.

A major highlight will be the early contest between Mumbai’s pace spearhead Trent Boult and GT’s top-order trio — Shubman Gill, Sai Sudharsan, and Jos Buttler. GT’s strength lies at the top, and surviving Boult’s opening spell will be critical for their chances.

Both teams have quality in their line-ups but are still searching for rhythm and the right combinations. A win here could spark momentum, while a second loss might push either team into early pressure in a tightly packed table.

Probable Playing Xis:

Mumbai Indians: Rohit Sharma, Ryan Rickelton (wk), Will Jacks, Suryakumar Yadav, Tilak Varma, Hardik Pandya (c), Naman Dhir, Mitchell Santner, Deepak Chahar, Trent Boult, Vignesh Puthur

Gujarat Titans: Shubman Gill (c), Sai Sudharsan, Jos Buttler (wk), Glenn Phillips, Shahrukh Khan, Rahul Tewatia, Rashid Khan, Sai Kishore, Kagiso Rabada, Mohammed Siraj, Prasidh Krishna

Continue Reading

Trending

© Copyright 2022 APNLIVE.com