Wednesday, 1st April, 2020

Rupee wails, Dollar smiles

10, Sep 2018 By shakeel ahmad

The rupee is wailing while the dollar is laughing. Our finance minister is suggesting for not to panic behind the trend. Reasons are global for an unprecedented fall of the rupee. His response may be squishy and smallish but the consumers are directly suffering by this phenomenon in the economic field.

Our currency is becoming weaker bringing adverse impact upon the everyday consumer items. What to say of hike in prices of the petrol and the diesel, the impact of rupeeā€™s weakness before the almighty dollar is obviously clear through inflationary trends.

A hundred-rupee currency note is no longer maintaining its previous intrinsic value. The common people are spending minimally one five-hundred currency note at a time in the market. It gives the five-fold increase in expenses now.

This is impending upon us owing to the dollar going stronger on the fiscal front that is enough to bring our disappointments. It is increasing our woes to the hostile level. It is even considered worse than the growing bodily pain. It is the sidekick to the misfortune where we feel like all the heartbreaks going together with the temperament of the tropical storm.

Feeling unsatisfactory we can only bemoan by saying what can we possibly do about it. We seem to be crying in a corner or letting annoyance or bitterness boiling up inside of us? Is anyone ready to get out of denial and confront with stark reality? The Reserve Bank of India is doing whatever is needed in the face of the problem.

If we are not raising our profound voice against such a constant downtrend of our currency we are surely pushing us in the dark alley which has no way of return. The dollar is strengthening day by day while rupee is settling lower day after day.