Updated Apr 15, 2021 | 16:54 IST
The remarkable decline in the currency s value has turned it from Asia s best-performing currency (in the previous quarter) to its worst. Representational image. | Photo Credit: PTI
Key Highlights
The decision of the RBI to maintain a dovish stance and infuse liquidity into the market via its bond program weaned away the rupee s strength
FPI outflows have also, in the view of most experts, placed additional pressure on the currency
A weakened rupee will, of course, make exports cheaper and therefore more competitive in global markets, but will, simultaneously, also make the country s imports more expensive
The last three weeks have seen the Indian rupee take a battering. On Tuesday, the rupee slipped to 75.35 against the US dollar – a ten-month low as the alarming surge in coronavirus cases across the country, and the imposition of new curbs and restrictions on business activity and mobility continue to