business 📉 Rupee hits ₹95 against dollar, what's next?
The Indian Rupee has touched the ₹95 mark against the US dollar, causing noticeable financial pressure for travelers and students. This shift means a $5,000 expense is now nearly ₹4.75 lakh instead of ₹4.15 lakh when the rate was ₹83. Experts suggest the rupee may stay pressured due to high crude oil prices and strong dollar demand. The RBI is intervening by selling dollars to manage the depreciation orderly. However, some see this as a warning rather than a permanent shift in the currency's value. 😟