Dollar Vs Euro: After Two Decades, Euro Fell Below US Dollar

Dollar Vs Euro: After two decades, the euro fell below the US dollar, and the rupee continues to decline.

The ongoing war between Russia and Ukraine is having a bad effect on the euro, the currency of European countries. The euro fell to $0.9998 on Wednesday.

However, later it strengthened slightly and reached $ 1.002. This is the first time since December 2002 that the euro has hit such a low against the US dollar.

The price of the euro has fallen by 12 percent this year.

Generally, the value of the euro is higher than the dollar. Due to the Russo-Ukraine war, this new crisis is being considered for the European countries suffering from inflation.

Inflation in the US has reached a 41-year high of 9.1 percent. In such a situation, it is believed that the dollar will strengthen further in the coming days. This could also lead to a further fall in the euro.

Dollar Vs Euro- Rupee reaches 79.81 against Dollar.

The depreciation of the Indian currency against the dollar continues. On Wednesday, the rupee recorded a fall of 22 paise and reached Rs 79.81 against the dollar.

This is the lowest level of Rs. The rupee opened with a strong trend at 79.55 per dollar in the interbank foreign exchange market.

During trading, it strengthened to 79.53 per dollar, but later due to the strengthening of the dollar, finally closed at Rs 79.81 per dollar with a strong fall of 22 paise.

Earlier on Tuesday, the rupee had closed at Rs 79.59 per dollar. Experts say that to curb rising inflation, central banks around the world are aggressively increasing interest rates.

This has affected the sentiment of the rupee. Besides, selling by foreign investors from the domestic market has also put pressure on the rupee.

India to remain world’s fastest growing economy for next few years: Report.

The Indian economy will grow at the rate of 7.1 to 7.6 percent in the current fiscal year 2022-23, despite the global crisis caused by the Russo-Ukraine war.

This has been estimated in a report on Wednesday.

It is said that India can still maintain the status of the world’s fastest-growing economy despite rising commodity prices, high inflation levels, and supply constraints.