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Hopefully this will also strengthen the INR compared to the USD. Good move!
by suyash 4y ago
Hopefully this will also strengthen the INR compared to the USD. Good move!
- nxm 4y agoWhich will make Indian labor and products more expensive and less attractive.
- programmer_dude 4y agoOn the flip side it will also make imports cheaper. Given the fact that India imports more than it exports (monetary value wise), this is a net positive. At least for now.
- kylehotchkiss 4y agoIf I understand this correctly, the exchange rate changes are more related to rate hikes in US and the amount of dollar based debt.https://en.wikipedia.org/wiki/External_debt_of_India#Currency_composition https://en.wikipedia.org/wiki/External_debt_of_India#Currenc... Plus US is one of India's larger trade partners (https://en.wikipedia.org/wiki/List_of_the_largest_trading_partners_of_India#Countries_of_which_India_is_the_largest_trading_partner https://en.wikipedia.org/wiki/List_of_the_largest_trading_pa...) where payments will be USD. I can't see this having a huge shift on the exchange rate, but hope to see it stabilize soon.
- samspenc 4y agoInterestingly, this announcement hasn't moved the USD-INR exchange rate that much, looks fairly stable over the past 24 hours, let's see what happens over the long term.