Hello to Hive Fam!
I hope that life is treating you well wherever you are in this part of the world.
The current situation is not good globally because of the ongoing war between Iran and US and you can also say between Israel how ever this country has taken aside in this war I am not fighting by coming on front foot. You can say that this is war between America and Iran and because of this world entire world is impacted. The impact is not just financial but also it is creating fuel supplies problems.
We have been hearing a lot about state of Hormuz but looks like that problem is not really so big and it is also kind of resolved partially but because of the ongoing situation the stability is not there world wild and global economies are impacted badly. Indian currency has been dropping consistently since the beginning of this year and currently it is almost at the range of 95 rupees against $1 which is the highest ever I have ever seen.
Image sources- Google
If this continues to be like this then we are going to see a lot of impact coming globally on various aspects where it is not just economy it is impacted but also other segments like energy job market etc will also be impacted. The Fiat currency is the backbone of any country so if it is strong then it is good for the country because now they are in the better situation however with dropping value of the Fiat it's concerning.
This price that I have seen against INR and US dollar is really concerning because this is the highest ever it has made how ever it is dropped by a little percentage what is your since it has touch this once so there are high probability that this will go there again and properly it can also get stable about that range.
I am not a economist but I do understand some logics behind that how is it going to impact the life of common people in the country when currency lose its value because dollar is the main currency and the country has to buy it for various requirements in that case they will need to pay more in our currency which is not good for the countries treasury.
I seriously hope that this situation should improve and we get to see some reduction coming to the INR value against dollar but to be honest in this current situation when countries are fighting it seems hard and don't know whether it is going to happen and even if it happens then also talking about timeline difficult and challenging. Thank you.