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Rupee is falling and responses are on the rise on Twitter

The Indian Rupee is falling. It is probably going to hit a record, but for all the wrong reasons. It is expected that the rupee will depreciate further, and investors are advised to remain vigilant and cautious of the situation. The dollar is in a race to beat all the other major currencies, and it seems like the competitive spirit is hitting the Indian rupee right on the face, and it is stumbling. The rupee has hit a record low of 79.74 and at the moment the plight of the financial markets is looking rather bleak. Globally, inflation has been a key factor in weakening economies across nations, and the Consumer Price Index reading that took place on Wednesday was the cherry on top.

Rupee VS Dollar

Falling And Rolling

The events that are unfolding are also a reflection of how investors choose to play safely under the shade of US markets. Because the alternative is the EU recession risks, which is not exactly desirable. With the threat of Russia looming large in the background coupled with the ECB’s rather sloth-like intervention to gain some control of the situation, it seems like the recession in the EU is just on the doorstep. Thus investors are seeking the safest option. They are selling Euros and buying Dollars. This also solidifies the USD’s position as the safest currency that can stand the waves of uncertainty.

The situation looks rather bleak for India as well as the Indian rupee is also expected to decline further. This will have a direct effect on inflation, aggravating the situation. India’s dependence on foreign countries for fertilizers and edible oils does not help the situation either.

Reactions On Twitter

Quite naturally, the news of the fall of the Indian rupee to a record low has aroused the interest of the Twitter town. As usual, we have a long line of reactions and responses, and most of them are indirect backlash at the Modi government. Because, clearly, it doesn’t seem like the governing process is reaping the desired results. Let us flip through a couple of reactions and responses to get a better picture.

Pearls of wisdom indeed.

The way your words come back to bite you.

That is not an exaggeration at all. Given the way things are, it might actually happen

Well, well, well…

Typical ‘from the frying pan to the fire’ situation

The silence is deafening indeed.

Quite possible.

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