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Weaker Rupee to Push India Import Bill: GTRI
Hindustan Times Rajasthan
|January 18, 2025
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday.
NEW DELHI:
Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25%, rising from $65,877 per kg in January 2024 to $86,464 per kg in January 2025.
Since January 16, last year, the Indian Rupee (INR) has weakened by 4.71% against the US dollar, falling from ₹82.8 to ₹86.7.
In the last ten years, between January 2015 and 2025, the INR has weakened by 41.3% against the US dollar, falling from ₹41.2 to ₹86.7, the Global Trade Research Initiative (GTRI) said in its report.
In comparison, the Chinese Yuan depreciated by 3.24%, from Yuan 7.10 to Yuan 7.33.
This story is from the January 18, 2025 edition of Hindustan Times Rajasthan.
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