Does India have a foreign exchange problem?Between September 2024 and February 2025, the rupee weakened from 83.79 per dollar to 87.49. This marked a 4.5% fall over five months, equivalent to nearly 11% on an annualised basis, which is significant by any standard. Stretching back to January 2022, when the exchange rate was close to 74, the domestic currency has depreciated by about 18% over three years. In historical context, this is a steep erosion in the rupee’s value against the dollar.
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