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Dollar scares Modi: Prof. K. Nageshwar

Sun, Jun 03, 2018, 10:25 AM
Even as the American dollar is appreciating, the value of rupee is falling, leading to new challenges to the Centre and Prime Minister (PM) Narendra Modi, who is about to face an election next year. As the dollar becomes strong, there is a rise in prices of imports, including petrol and diesel. Also, the dollar strengthening means foreign investments go back to the States, leading to further falling of the rupee. The drastic economic fallout of the strengthening dollar is causing more headaches to Modi than the united opposition, it appears.
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