Rupee Weakens Against Dollar: Rising Inflatio, making loans expensive by RBI, selling in the stock market of foreign investors, besides the ongoing war between Russia and Ukraine (Russia Ukraine War) in the rupee against the dollar on Monday. Has seen great weakness. The rupee slipped 49 paise to 77.41 against the US dollar in early trade on Monday.

What will be the effect of expensive dollar
1. India is the second largest fuel consuming country in the world. Which 80 percent is met through imports. Government oil companies (Oil Marketing Companies) buy crude oil by paying in dollars. If the dollar becomes expensive against the rupee and the rupee depreciates, then state-owned oil companies will have to pay more dollars to buy crude. This will make imports expensive and common consumers will have to pay higher prices for petrol and diesel.

2. Lakhs of children from India are studying abroad whose parents are paying from fees to living expenses. Their studies abroad will become expensive. Because parents will have to buy dollars by paying more money so that they can pay the fees. Due to which they will get the shock of inflation. From the month of June to August, due to the start of foreign admissions, the demand for dollars increases anyway. Parents will have to bear the brunt of the expensive dollar.

3. Edible oil is already expensive, which is being met by imports. If the dollar becomes expensive, importing edible oil will be even more expensive. To import edible oil, more foreign exchange will have to be spent. Due to which common people will have to pay more price for palm oil to other edible oil.

4. Those who were planning to travel abroad during this summer vacation will be shocked. Because you have to spend money to travel. Traveling abroad will become expensive. Similarly, the travel industry was going through a crisis due to Corona, but due to the strength of the dollar, they were shocked.

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