INR vs US Dollar: Rupee fell by 42% during Prime Minister Modi’s tenure

New Delhi : The Indian rupee is continuously falling and news of reaching a new record low against the US dollar is being published day by day. Actually depreciation of rupee is not a new thing and it has depreciated a lot since independence but there are many reasons for this. Yet, since the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) came to power in 2014, the rupee has depreciated by around 42 percent, much higher than before. Is.
According to Reserve Bank of India records, on the day Prime Minister Narendra Modi took oath for the first time, i.e. on 26 May 2014, the rupee closed at 58.58 against the US dollar, and today, i.e. on 20 October 2022, during trading, the rupee closed at 83.12. reached the level of , which is 41.89% higher. Not only this, the US dollar was valued at Rs 44.97 on 3 May 2004 and recorded a decline of 30.26% over the next 10 years (to reach 58.58).
Now the depreciation of the rupee in the last eight years is historic, and it has crossed the Rs 83 level with a fall of around 42% during the Modi era. The rupee had breached the 83 level against the US dollar during foreign exchange trading on Wednesday but closed at 82.37. But again on Thursday it crossed the Rs 83 level and touched a low of 83.12 during the trading session.
It is worth noting that on May 2, 2022, the rupee was worth Rs 76.43 this year and the rupee remained at the same level since April. By June 2, 2022, it had declined by about 1.5 percent to 77.58. It then declined by 1.95 percent from June to 79.09 by July 1, 2022. By August the decline stopped somewhat and the rupee reached a level of 79.16 on 1 August 2022, with a decline of only 0.08% for the entire month.
It then touched 79.39 on September 1, 2022 and recorded a total decline of 0.29% during the last one month. As of October 3, 2022, it once again declined by 2.96%, and closed at 81.74. It has now fallen 1.68% in the last 19 days, and is trading at its lowest level of 83.12.


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