Falling rupee makes Haj costlier this year
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Haj pilgrimage will be a costly affair this year, owing to the steep decline in the rupee value. Each pilgrim will have to shell out at least Rs 30,000 more this year. Last year the conversion rate of rupee against Saudi Riyal was Rs 12, which has shot up to Rs 15 now. The chief executive officer of Central Haj Commi-ttee, Mr Shakir Hussain, said it’s a global phenomenon, since the US dollar is gaining momentum in the global market, it has consequent increase in the value of the currencies of Gulf countries, especially to the riyal of Saudi Arabia.
“The conversion rate of rupee against riyal was Rs 12 last year. Now it’s almost Rs 15. This will definitely make the Haj pilgrimage costlier,” Mr Hussain said. This year, a total of 5734 pilgrims are going for the Haj through government quota. The pilgrims have to make their initial payment to the Haj Committee on June 1, which is Rs 51,000. They have to make the next payment on July 19, but the Central Haj Committee hasn’t declared how much they have to pay the second time. “A bilateral agreement between the governments of Saudi Arabia and India have to be made fixing a constant value for the riyal, which will happen soon. Once it’s made, we will decide the second payment. However, we are expecting an increase of Rs 25,000 to 30,000 this year,” he said.
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