In the fiscal year 2021, the appreciation in the domestic currency was 3.3 percent. However, in comparison with other Asian countries the percent increase is much lower.
In the fiscal year 2022, the depreciation may mark the rupee at 76.5.
Also, in the calendar year 2020, Rupee was noted as the worst-performing currency of the continent.
The USD per INR currency experienced 11 percent variation at the time of extremity of the covid-19 virus last year.
In contrast, the volatility at the time of spike in the treasury bills in 2013 was 20 percent. Also, the currency volatility was 30 percent during the default of risky mortgages in 2007.
For the country as well as worldwide the year of the pandemic was a difficult one. In fiscal year 21, the Indian government was successful in reasonable management of the rupee movement.
Additionally, the Reserve Bank of India permitted the Indian banks to involve in the global market. This, as a result, led to a reduction in shock from foreign to India.
This year, Rupee came into notice as for now it is the best performing currency of 2021.
Also, the nationalized banks in the past trading sessions constantly included the bid in USD per INR.
As per experts, with the economic activities performing at a usual level, the current account may shift to the deficit
In case of the rising of the covid-19 virus, the government taking strict action has an impact on the economic activities. It would create pressure on the Indian rupee and assets.
Check all the recent news updates and share market updates