In the open market, the dollar remained stable at Rs 204
The dollar continues to depreciate against the rupee.
After the three-day holiday, foreign currencies started trading in the interbank and open market, and the rupee continued to appreciate.
On Monday, the rupee appreciated by 39 paise to Rs 204.85 in the interbank market.
On the other hand, the dollar remained stable at Rs 204 in the open market. Last month, the dollar reached close to Rs.
The International Monetary Fund (IMF) released its World Economic Outlook report on October 2, which contained a forecast of continued global growth despite a number of headwinds. In the report, IMF conceded that a key reason for slow growth in the major economies was the depreciation of the dollar, a trend that began in 2014. The IMF expects the dollar to depreciate against most major currencies by the end of 2018. The depreciation of the dollar has been a major contributor to the increase in prices of some imported goods, although it has also had a negative impact on exports.
Businesses and consumers in the United States have been negatively impacted by the depreciation of the dollar. The cost of imported goods has risen, which has put a tremendous amount of pressure on household budgets. In addition, the lower value of the dollar has made American exports less competitive in the international market. This has resulted in decreased employment and decreased income for American consumers.