Indian Rupee Drops to Record low

The rupee weakened to an all-time low past 50.65 against the dollar early on Friday, weighed down by heavy dollar demand from importers to meet month-end commitments. At 9:04 a.m., the partially convertible rupee was at 50.67/68, off a low of 50.68 and weaker than its Thursday’s close of 50.45/47.

News Source – Reuters India

Currency Exchange Crisis

As I had a look on the fluctuating Currency Exchange Rates, I simply could not remove my attention from the online currency converter as who knows their value better than the one who has got his money plunged in the ongoing economic tumult. According to the currency exchange rates on the online currency converter, dollar is soaring high and the values of gold as well.

Currency Exchange Rates

But Indian currency is slipping downwards and that is what is making me lose hope everyday. The inflation has gradually caught momentum and seems to affect the currency exchange rates in a fastened manner. The online currency converter, however, disappoints every time as the fluctuating currency exchange rates take the breath away.