At least eight foreign currencies, including Isle of Man pound, Gibraltar pound and Jersey pound currently trade over the 100 mark against the Indian currency. While euro and Jordanian dinar are in 90s, there are about 50 foreign currencies trading at over 50 level against the rupee
Even as the Indian rupee’s record fall against the US dollar continues to hog the limelight, the domestic currency also lost ground and breached key levels against a host of other currencies including British pound, euro and Swiss franc.
Adding to the rupee’s woes, the British pound on Wednesday crossed 106 level, euro went past 92, Swiss franc touched 75 mark, Canadian dollar was at 65, Australian dollar at over 60, while New Zealand dollar, Singapore dollar, Bruneian dollar and Libyan dinar crossed the 50 level.
Among even more expensive foreign currencies, one Kuwaiti dinar is now worth more than Rs240, Bahraini Dinar over Rs180, Omani rial has gone past Rs175 and Latvia Lat Rs130.
Against the most prominent foreign currency US dollar, the rupee has fallen to a record low of 68.75.
Since May, the US dollar has appreciated by about 28%, amid aggravating concerns over flight of foreign funds from India due to weak domestic economic conditions and global headwinds.
Rupee’s fall has been the same or higher against a host of other foreign currencies including pound, euro, Swiss franc for the same period.
The plunge has been less sharp against a few like Australian dollar (10%), New Zealand dollar (16%) and Brazilian real (8%).
A few currencies against which the rupee has appreciated since May include those in countries like Panana, Tongo, Surinam, Tajikistan, Solomon Islands, Salvador, Haiti, Kyrgyzstan, Liberia, Syria, Congo, Somalia, Sierra Leon and Guinea.
An analysis of foreign exchange rates across the world shows that Kuwaiti dinar is the most expensive against the rupee at current level of close to 243, followed by Bahraini dinar (182), Omani rial (178) and Latvian lat (130).
Among the major foreign currencies, British pound is the most expensive and hit a record high of 106.91 this afternoon, followed by euro, Swiss franc, US dollar, Canadian dollar and Australian dollar.
At least eight foreign currencies currently trade over 100 mark, including Isle of Man pound, Gibraltar pound and Jersey pound. Besides, euro and Jordanian dinar are in 90s. At least 50 foreign currencies trade at over 50 level.
The number of foreign currencies having a value higher than rupee is at least 100, while those valued less than Indian currencies include those of Bangladesh, Liberia, Algeria, Serbia, Kenya, Angola, Japan, Nepal, Pakistan, Albania, Syria, Iceland, North Korea, Sri Lanka and Nigeria.
Currencies in countries like Guyana, Yemen, Hungary, Malawi, Zimbabwe, Costa Rica, Chile, Rwanda, Congo, Burma, South Korea, Iraq, Somalia, Lebanon, Burundi, Mongolia, Tanzania, Colombia, Uzbekistan, Uganda, Cambodia, Paraguay, Lao, Belarus, Indonesia, Iran and Vietnam also carry value less than one rupee.
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