Guwahati, July 10 -- India has been battling the depreciation of the rupee against the US dollar for years, significantly impacting international trade, particularly imports. As of today, 1 US dollar equals between Rs 94.30 and Rs 94.55. The falling value of the Indian rupee increases the cost of imports such as crude oil, machinery, medical equipment, and electronic goods, all of which are essential to citizens' daily lives.

For example, if crude oil costs $100, India has to spend Rs 9,000 when the exchange rate is Rs 90 per US dollar. This is only for crude oil, while India imports many other essential goods. Such a disparity often raises the question of why global currencies are measured against the US dollar. To understand this, it i...