Already Asia’s worst performing currency, the Indian rupee might fall further

[BHarwana]

Good morning India

The Indian rupee is inching close to the Rs70 mark against the dollar, battered by global economic turmoil.

On Aug. 13, it closed the day at Rs69.93, its weakest ever. The 1.56% decline was also the currency’s sharpest single-day fall since September 2013. The Rs70-level against the dollar is seen as a psychological threshold which, once breached, may be treated as the new normal for the currency.

Moreover, things could get much worse in coming months for Asia’s worst-performing currency of the year. If global concerns, including the US’s protectionist measures against countries such as Turkey and China, persist, the rupee may even slide to Rs72 against the dollar, according to analysts.

Already, higher crude oil prices, a widening trade deficit, and the exit of foreign investors from India have shaved off over 8% from the rupee’s value this year.

https://qz.com/india/1355240/indian-rupees-slide-continues-on-trumps-global-trade-war/

 

[Skull and Bones]

Sad, but I fail to understand how is it still holding it's value against Euro, pound or yuan?

 

[BHarwana]

Sad, but I fail to understand how is it still holding it's value against Euro, pound or yuan?

Because you are not trading in them and your main out flow is dollar. Once market stabilizes it will also fall against them like it has already started falling against yuan.

 

[GHALIB]

it will improve .

 

[Skull and Bones]

Because you are not trading in them and your main out flow is dollar. Once market stabilizes it will also fall against them like it has already started falling against yuan.

It gained against Yuan in recent times.

 

[kris]

Is Indian rupee performing bad than pak currency???

 

[AyanRay]

Is Indian rupee performing bad than pak currency???

PNR is not considered here.Only the economies which matter are tracked.

 

[BHarwana]

Is Indian rupee performing bad than pak currency???

Yep Indian rupee performing bad than pkr. Pkr regained and got stable Indian rupee is constantly falling.

 

[AyanRay]

Yep Indian rupee performing bad than pkr. Pkr regained and got stable Indian rupee is constantly falling.

Don't just blabber, do some research before posting. Pkr lost about 20% this year.

 

[Sine Nomine]

India isn't running for Bailout.

 

[AyanRay]

Because you are not trading in them and your main out flow is dollar. Once market stabilizes it will also fall against them like it has already started falling against yuan.

Really? You think India's trade with EU countries are done in USD? Or the large Indian diaspora in EU send remittances in USD? And there is something called as cross currency hedging. If you think INR is overvalued with respect to EUR, people would simply purchase EUR using INR from Indian market at a cheaper price, use EUR to buy USD in European market and again sell USD to get INR for a profit, and this will continue till INR finds its real value viz a viz the USD. I know all these are too much for you to understand, but still try to understand. The point is USD rising does not necessarily mean the other currency is falling if the rise is against all other currencies. The fact that INR is holding its value against the yen, EU or GBP means it's not a rupee problem. On the other hand PKR fell against all major currencies this year. Hope you understand the difference

 

[BHarwana]

https://twitter.com/x/status/1029395423771992067

https://twitter.com/x/status/1029305601992478725

https://twitter.com/x/status/1029978401271099393

 

[My-Analogous]

Sad, but I fail to understand how is it still holding it's value against Euro, pound or yuan?

You should buy Pound and sell it when you have higher return

 

[Storm Force]

Yep Indian rupee performing bad than pkr. Pkr regained and got stable Indian rupee is constantly falling.

LOVE IT

Stick that in your pipe and smoke ir ha ha ha

 

[my2cents]

Pkr lost 20% in 1 year and Inr lost about 15% during the same time. Pick a time period to see which one is performing well compared to other.