Rupee may be choppy, but is still World beater, will remain so into 2017:
The India rupee has emerged as on of the best currencies in emerging economies since Nov8 when Prime Minister Narendra Modi announced demonetisation of high-value currency notes and Donald Trump pulled off a surprise win in the US presidential election.
Market experts said domestic factors like the Reserve Bank of India status on policy rates in December review also added strength to local currency,which has the potential to continue the trend through 2017.
Except the Russia rouble (up 3 percent) and the Indian rupee (down 1.80 percent) rising current account deficit, inflation and economic and political unrest mostly affected the movement of other emerging currencies since November8.
Among the beaten-down currencies, the Turkish lira slipped over 11 percent, whereas Malysian ringgit, Brazilian real South African rand and korean won have plunged between 5.50 per cent and 700 percent since Nov8.
The Chineses Yuan,the Indonesian Rupiah and the Thai baht depreciated 2.40 percent 3percent and 2.63 percent, respectively since trump got elected as new....!
Except the Russia rouble (up 3 percent) and the Indian rupee (down 1.80 percent) rising current account deficit, inflation and economic and political unrest mostly affected the movement of other emerging currencies since November8.
Among the beaten-down currencies, the Turkish lira slipped over 11 percent, whereas Malysian ringgit, Brazilian real South African rand and korean won have plunged between 5.50 per cent and 700 percent since Nov8.
The Chineses Yuan,the Indonesian Rupiah and the Thai baht depreciated 2.40 percent 3percent and 2.63 percent, respectively since trump got elected as new....!
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