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BANKING & FINANCE
RUPEE AMONG BEST OF ASIAN CURRENCIES IN 2015
January 2, 2016
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1.Rupee turned out to be one of the best performers in 2015 among all Asian and BRICS currencies, excluding yen.

2.The currency’s depreciation of about five per cent against the dollar was less than the losses of most of its other Asian peers. The Indian rupee fared better in 2014, when it weakened by only two per cent.

3.The currency was stable when the U.S. raised the benchmark interest rate and has actually strengthened against the dollar since then.

4.Its Asian counterparts like the Indonesian rupiah weakened by 11.30 per cent and the Thai baht depreciated 9.5 per cent against the dollar. Only the Chinese currency fared marginally better, losing only 4.6 per cent.

BRICS nations

Among the BRICS nations also the Indian currency fared well. The Brazilian real depreciated 49 per cent against the dollar while the South African rand declined 34.75 per cent.