
Rupee at 95.46: What a Weak Indian Currency Really Means for NRIs and India The rupee’s slide toward ₹95.46 against the US dollar has produced a familiar headline: the Indian currency is weakening. But behind that number is a much bigger story—one involving oil, global capital, imports, exports and millions of Indians earning money overseas. There is a number that has become increasingly difficult for Indians to ignore: 95.46. That was the rupee’s recent closing level against the US dollar in one trading session, after the currency weakened by 38 paise. For someone travelling abroad, buying an imported product or paying an international bill, the number can look rather unpleasant. For an Indian living overseas and sending dollars home, however, the same number tells a very different story. One dollar now buys substantially more rupees. And that is the strange dual personality of a depreciating currency. For one person, it is an expense. For another, it is an advantage. Why is the rupee under pressure? There is no single villain sitting in a dark room responsible for the rupee’s weakness. Several forces are working together. The first is the US dollar itself. When global investors prefer dollar-denominated assets, emerging-market currencies
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