Indian Currency Ended 2022 As One Of The Worst Performing Asian Currencies

With a fall of 10.14% in its value, the Indian currency ended 2022 as one of the worst-performing Asian currencies of 2022.

The fall of 10.14% is the biggest annual decline since 2013. Whereas the dollar rocketed on the U.S. Federal Reserve’s aggressive monetary policy stance to tame inflation. The value of the dollar has grown from 74.33 Indian Rupees in 2021 to 82.75 Indian Rupees at the end of 2022.

Apart from India, the Japanese currency is the only Asian currency to have a fall of  12%.

One of the reasons for this fall is the Russia-Ukraine conflict. Which pushed India’s current account deficit to a record high in the September quarter in absolute terms.

Heading to 2023 experts believe that the value of Indian currency will increase. And are hopeful of foreign investors continuing to buy Indian equities which will help the Indian currency grow.