For instance, a country's currency may be floating, fixed or a hybrid. Governments of respective country can impose controls on exchange rates as well as certain limitations on the currencies. Though in some exchanges, rates are fixed by an agreement, most of them fluctuate daily.
The daily revision of these exchange rates will be listed in the financial sections of newspapers. It can also be found on the financial web portals. It can also lead to devaluation of exchange rates refixed at a lower rate , this situation will make its imports costlier and its exports cheaper.
Similarly, if the exchange rate is undervalued, the country may persistently face a situation of balance of payments in surplus. The exchange rate has to be revalued refixed at a higher rate , this situation will make the nations imports cheaper and its exports more expensive.
Disclaimer: The currency rates are sourced from reliable sources. There maybe variance in rates and prices. The rates are for informational purposes only. It is not a solicitation to buy, sell or act based on the rates given. Home » Banking » Currency. The Goodreturns. A Steady Movement for the Indian Currency The rupee has been on a steady upmove against other currencies since the start of the year. Notification Settings X Time Settings.
RBI does not give any reason behind the rise or fall in reserves. Positive moves in Indian equity indices and stronger Asian currencies aided sentiments, forex traders said, adding that Omicron worries and firm crude oil prices restricted the appreciation bias of the local unit to some extent.
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