4 ms·
It is not the numbers on the notes that matter, it is the loss of purchasing power. In 1995, 1 USD = 32 INR. In 2022, 1 USD = 75 INR. Add to that the fact th
by danuker 5y ago
It is not the numbers on the notes that matter, it is the loss of purchasing power.
In 1995, 1 USD = 32 INR.
In 2022, 1 USD = 75 INR.
Add to that the fact that USD is also losing value itself.
- ajonit 5y agoSaying “devalued”, OP referred to the Nov 2016 demonetisation of INR 500 and 1000 currency notes that happened in India.
- hd4 5y agoCorrect, thanks for pointing that out, I edited the original comment.
- ClumsyPilot 5y agoThere are many things that happened in the global economy, banking, supply chains and multinational corporations. How much of this change is the fault of Indian government?
- danuker 5y agoJudging by the money supply increase, inflation should have been even higher. Looks like velocity is tanking. https://tradingeconomics.com/india/money-supply-m3 https://tradingeconomics.com/india/money-supply-m3