Page 41 - NIS English september 01-15, 2022
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India in a Strong Position Economy
June against 9.4% in the year-ago period. The
eight core sectors include coal, crude oil, natural
gas, refinery products, fertilizers, steel, cement,
and electricity. The share of the eight core sectors
in the Index of Industrial Production (IIP) is 40.27
percent. According to the government data, in
the month of June this year, an increase of 31.1
percent in coal production, 15.5 percent in power
generation, 19.4 percent in cement production,
15.1 percent in refinery products, 8.2 percent in
fertilizer production, 3.3 percent in steel production
and 1.2 percent in natural gas production has been
registered.
RUPEE REGAINS FOOTING AGAINST US
DOLLAR
Due to the Russia-Ukraine war, markets around
INDIA'S MERCHANDISE the world are facing inflation. At the same time,
the effect of increasing the policy interest rate by
EXPORTS IN JUNE GREW the Central Federal Bank of America some time
BY 23.52 PERCENT TO USD ago had an impact on the currencies of other
countries against the dollar including the Indian
40.13 BILLION rupee. The Indian currency, which fell by Rs 80
against the dollar, is recovering again reaching the
In the month of June of the financial level of 79.64 by 9 August. According to Finance
year 2022-23, the merchandise exports Minister Nirmala Sitharaman, “The government
increased by 23.52 percent to $ is monitoring the situation. The Reserve Bank is
40.13 billion. In the first quarter of the keeping a very close watch on the exchange rate
current fiscal, April-June, exports grew of the rupee. But the rupee has outperformed the
by 24.51 percent to $118.96 billion. dollar against other currencies."
AN EVALUATION OF OTHER CURRENCIES
17 PERCENT INCREASE IN AGAINST THE DOLLAR
The rupee has depreciated 7 percent against the
MADE IN INDIA PRODUCT dollar in 2022. While Japan's yen, Europe's euro,
EXPORTS and Sweden's krona have fallen by an average of
10 percent against the dollar this year. Notably, the
India has set a record in the export of rupee has strengthened against these currencies.
Made in India products in June 2022. The Euro is not performing well against the dollar.
While exports were $32.5 billion in In July, the euro has seen a tremendous decline
June 2021, $37.9 billion was recorded twice against the dollar. In July 2021, one dollar
in June 2022. This figure for exports was equal to 0.84 euros. Whereas as of August 9
in June 2022 is the highest in any it is at the level of 0.98 euros. The Japanese yen is
one month. This is an increase of 17 also depreciating against the US dollar. On June 22,
percent in one year. 2022, the yen fell to a 24-year record low of 136.45
per dollar. The price of the yen was around 109.98
in July 2021, it fell to 138.80 yen in July 2022.
New India Samachar September 1-15, 2022 39
