all countries with higher currency value than indian rupee

The current account surplus was $19.1 billion, which was 3.7 percent of GDP in the previous financial year (Q1:FY20-21) for the same period, according to the Reserve Bank of India (RBI).

India's current account balance posted a surplus of $6.5 billion, which is 0.9 percent of Gross Domestic Product (GDP) in the first quarter of the financial year 2021-2022 (Q1: FY 21-22) as against a deficit of $8.1 billion, which is one percent of GDP in the fourth quarter of the financial year 2021-2022 (Q4: FY 21-22). A large trade deficit signals greater reliance on foreign capital inflows and further weakens the Indian rupee in the Forex market.Įven as all the economies in the world are going through an economic slump, an disproportionate trade deficit will result in creating a weak rupee value against the US dollar. It gives you the difference between the inflow and outflow of foreign currency. The Current Account Deficit is considered an important metric for gauging a country's economic health and stability. The Current Account Deficit refers to the net amount of a nation's imports minus the exports during a year, also known as External Balance. Here are some of the major factors that have impacted the fall of the Indian Rupee against the US dollar: Rising Current Account Deficit USD is driven by several factors, including weak export numbers, a drop in domestic consumption, increased energy prices, and fear of soaring inflation, among other reasons. Compare multiple money transfer specialists before sending money from the US to India or from India to the US. Despite the worrying forecast, remittances to India continue to out-perform. India is the top recipient of remittances globally, followed by China, Mexico, and the Philippines. India received $83 billion in remittances in 2020, according to the World Bank.

Set up exchange rates alerts to get notified when the USD vs. If you are sending money to India from the US, a weaker rupee means more value for the same amount of dollars.

UBS strategists expect the INR to weaken to 77 per dollar by the end of the year - more than 5% weaker than current levels - and depreciate further to 79.5 per dollar by September 2022. The Indian Rupee has fallen to an all-time low against the US dollar, reaching levels of 1 USD to INR 76 in the recent past. Indian Rupee is likely to touch 79.5 INR/1 USD in 2022.

All countries with higher currency value than indian rupee