Sunday, June 4th, 2023

Not only the Indian Rupee collapsed, the British Pound also came down to a four-decade low, know why the world’s currency is falling apart

Photo:FILE Britain Pond


  • British pound fell to 1.0349 per US dollar
  • Rupee falls 47 paise to 81.56 against US dollar
  • Pound trading at 1980s levels

Indian Rupee The period of decline is not going to stop. Today, on the first trading day of the week, the Indian rupee is trading at an all-time low of 81.56, down 47 paise against the US dollar. However, it is not that only the Indian rupee is depreciating. There is a decline in the currency of the world against the dollar. The British pound fell sharply against the US dollar on Monday after Britain’s new government unveiled plans to cut taxes and boost spending. The pound fell to a low of 1.0349 per US dollar in early trade on Monday. However, it improved slightly later and was down by 2.3 percent at 1.0671 per dollar. Thus, the pound is at a four-decade low against the dollar.

In this way there was a big fall in the pound

The tax-cutting scheme has raised concerns that increased public borrowing will deepen the crisis. Due to this, there has been a big fall in the UK currency. Britain’s currency had broken more than three percent on Friday. The pound is trading at levels seen in the early 1980s. However, other currencies also weakened against the dollar during this period.

Rupee breaks down to all-time low at 81.52

Amid the strength of the US currency, the rupee is trading at an all-time low of 81.56 on Monday, down 47 paise against the US dollar. Risk aversion among investors also put pressure on the rupee. Experts say that the fall in the currency of the world is being seen due to the increase in geopolitical risks due to the Ukraine conflict, a fall in the stock markets and the withdrawal of foreign funds. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, rose 0.67 per cent to 113.94. Global oil benchmark Brent crude futures were down 0.58 per cent at $85.65 per barrel. Due to this, there is a fall in the rupee.

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