After two consecutive months of weakness in Sep-Oct 2021, the Indian rupee did exhibit signs of consolidation in Nov-21 but has again been subject to depreciation pressures from the last week of the previous month.
The stability and consolidation had stood out last month as this has happened in the backdrop of a strong dollar (3.0% MoM gain in the DXY Index in Nov-21) and broad-based weakness in key emerging market currencies. However, we note that Asian currencies, anchored by the recent CNY strength, have outperformed the rest of the EMFX basket during this period.
Acuité Ratings & Research is pleased to share the eleventh edition of Acuité Macro Pulse - November 2021
Read the full edition here: Link to the report