Inflation might increase during Navratri and Diwali; Rupee devalued

Mumbai – Inflation might increase in the coming period. The rupee devalued greatly in the Share Market on 22^nd September. The exchange rate for 1 USD is Rs 80.28 now. The devaluation of the rupee would affect badly the prices of some commodities during Navratri and Diwali.

The rupee on Thursday hit a fresh record low of 80.285 against the US #dollar at open. The Indian currency slipped 0.39 per cent in the opening trade against yesterday’s closing of 79.97.https://t.co/GQ9IDzhbgb

— Economic Times (@EconomicTimes) September 22, 2022

The Interest rate of the Federal Reserve Bank of the US has increased by 0.75%; in the next 3 months, it might increase further. It is predicted that this will make crude oil more expensive. As a result petrol price will increase. Besides, the prices of pulses and electronic goods will also increase.