INR at its lowest, exporters and NRI gain

Indian rupee is all time low with consumer good stocks falling at all time low and FDI reducing from market, Indian government is having hard time controlling Indian rupee volatility and its further bearishness. Its not only Indian rupee, but also Australian dollar is also weakened past few days. 1 US $ is currently fetching all time high of INR 55 today, 21st may, 2012. Exporters and NRI who remit foreign currency are the ones to ride on this bearish market. US dollar value today is INR 55 and in coming days, it may still rise to INR 57.

today US dollar value

Today US $ value is above INR 53 per unit, touching almost Rs. 54 at its highest. The weakening if Indian rupee is due to huge dependency of foreign investments which is quite a huge part in indian economy. Also exchange rates are dependent on buy/sell goods and conversion country's economy. Likely hints and statements from governing regulatory like RBI India can affect sensex. About 20% of sensex is decided by 2 major indian companies, Reliance and Infosys.

Weakening of rupee is majorly governed by sensex rise fall. This rise has badly affected imports of crude oil as they are traded in US dollars. Beneficiary are export products but india relies more on import than export till now.