MUMBAI – The day has come where the Indian rupee bagged the title “Asia’s worst performing currency” when it hit rock bottom of 52.73, a 16.8 percent weaker than its 2011 high reached in late July. Probably India is showing consistency in only two things- inflation and currency decline. Question arises who is actually in crisis. Is it U.S. or India? Is it some gain and just lots of pain? Let’s take an areal view of the situation. The rupee suffered its second biggest fall in history.
Families of those working overseas will get more rupees for the dollars remitted by them. If you have been working for long time away from India and want to come back and settle down the make hay while the sun Chinese. The Indian rupee will fetch you fortunes if you have someone from abroad sending you lucky charm notes. For example, One euro can get you 70 now, which is 16.5 percent more than what it did at the beginning of this year. The British pound brings 81.40 rupees now, up nearly 17 percent, and the Australian dollar can get you 51.47 rupees, 12.5 percent higher than the start of this year. The Kuwaiti dinar is worth nearly 17 percent more at 187 for every dinar. On an individual level, however, the rupee’s losses can be good for some and bad for others depending on the situation.