Indian rupee value falls further against Omani rial, U.S. dollar

Muscat: The value of a single Omani rial increased to a record INR190 on Tuesday.
According to the currency exchange rate website xe.com, the value of the Indian rupee depreciated further this morning. Consequently, a single American dollar will fetch you just over INR73.
Typically, when the value of the Indian rupee falls against the Omani rial, there is a marginal increase in remittances from the Sultanate to India. Blue collar workers tend to take advantage of such situations and send relatively small amounts to bank accounts back home, exchange houses said.
Economists have said that the sustained fall of the Indian rupee was down to a number of international factors such as strengthening of the US dollar, an over-valued rupee stabilising and trade wars.
While some Indian expatriate workers in Oman might think of it as a good opportunity to remit more money home, the Indian economy has to contend with an ever-widening trade deficit due to a falling Indian rupee and increase in prices of crude.