India's Rupee One Of The Worst Of 2018
In 2018 India's currency Rupee is one of the worst performing currencies compared to Dollar. Indian Rupee lost more than 13% of its value against US dollar. It has fallen down to as low as 72.9 when values against the dollar in the last week.
It has been a similar pattern with several of the emerging markets. With the tensions rising in global trade amid trade wars and rising US interest hikes, US dollar is been more attractive for the investors.
At the same time, Indian economy is in a better shape posting a GDP of 8.2. Arun Jaitley Indian finance minister has said the government is taking several measures to ease the rupee value tensions within the stock market. It has come against the backdrop of criticism facing the Indian government in its intervention as it was ineffective.
As the foreign currency reserves have fallen down below $400 billion for the first time in 10 months and with the future interest rate hikes likely by the reserve bank, if the Indian Rupee continues to slide further into 2019.