Explained : How Euro Decline Against US Dollar Benefits India

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As per the experts presently Indian Rupee is resisting at Rs 80 to the US dollar whereas euro is continue falling against US dollar will benefit India because of extensive trading euro in by India with other emerging economies.

New Delhi (ABC Live India): The U.S. dollar continues to rally against foreign currencies, Over the past year, the dollar-euro conversion rate has been steadily dropping. And on Tuesday, one euro was valued at the equivalent of one U.S. dollar, marking the first time the two currencies reached parity since December 2002.

As of press time, the euro was trading at the exact value of $1.003, so technically a fraction of a penny from parity—and it could still climb and fall a bit in the coming hours and days as currency markets respond to constantly evolving economic factors. But one year ago, the dollar was hovering at $1.20 against the euro.

The fact that the dollar is so much stronger today against the euro should serve as welcome relief for Americans heading to Europe, helping to offset the costs of skyrocketing airfares (which have been pushed up by a rise in oil prices and staffing shortages), and of inflation that is impacting the price of everything from food to services on both sides of the pond.

The dollar is climbing mainly because the Federal Reserve, in its effort to cool the hottest U.S. inflation in four decades, is raising interest rates more aggressively than central banks in other countries.

It is mention worthy that the eurozone consists of 19 countries in the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain. On Tuesday, EU finance ministers officially approved Croatia to become the 20th member to adopt the euro as its currency at the start of 2023.

How Euro decline impacts Indian Rupee?

As per the experts  presently Indian Rupee is resisting at Rs 80 to the US dollar whereas euro  is continue falling against US dollar will benefit India because of extensive trading euro in by India with other emerging economies.

It is fact that Indian rupee has performed better against the US dollar in comparison of the euro because the RBI continued indulgence


           Top 10 Jul 14, 2022 02:42 UTC

US Dollar         1.00 USD         inv. 1.00 USD

Euro                   0.997380       1.002627

British Pound     0.842461       1.186998

Indian Rupee    79.745880      0.012540

Australian Dollar  1.476883    0.677102

Canadian Dollar    1.2982 69   0.770257

Singapore Dollar   1.395595    0.716540

Swiss Franc      0.981624         1.018720

Malaysian Ringgit   4.441661 0.225141

Japanese Yen       137.990352                        0.007247

Chinese Yuan Renminbi   6.724730    0.148705

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