The rupee weakened previous the 40 mark and went all the way in which to 52 very quickly, and has been depreciating steadily ever since
Subjects
Indian rupee | Rupee vs greenback
Those that have been monitoring the rupee over the previous twenty years would recollect that it had appreciated from 49 to beneath 40 towards the greenback between 2002 and 2007. There was numerous chatter across the 40 stage that the rupee was heading in the direction of 35. It was an period when unique derivatives had been in vogue and a number of other exporters had placed on leveraged spinoff buildings, betting on the rupee strengthening. Thereafter, got here the monetary disaster of 2008 which resulted in large losses on unique spinoff merchandise for a lot of exporters.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
SUBSCRIBE TO INSIGHTS
What you get on Enterprise Customary Premium?
Expensive Reader,
Enterprise Customary has all the time strived onerous to offer up-to-date data and commentary on developments which are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on methods to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough occasions arising out of Covid-19, we proceed to stay dedicated to maintaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.
As we battle the financial impression of the pandemic, we want your help much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We consider in free, honest and credible journalism. Your help by means of extra subscriptions can assist us practise the journalism to which we’re dedicated.
Assist high quality journalism and subscribe to Enterprise Customary.
Digital Editor
First Printed: Solar, July 31 2022. 18:06 IST
