INDIAN RUPEE WORST CURRENCY IN ASIADecember 28, 2021
Indian Rupee is likely to end the year as Asia’s worst performing emerging market currency.
Bloomberg report slammed India’s claim of becoming Asian tiger as in fourth consecutive year of loss, Indian rupee is likely to fall about 4% this year.
Bearish rupee calls are rising as India’s trade deficit widening to an all-time high of about US$ 23billion in November amid high imports.
The mayhems of first ill planned and sudden total lockdown by Modi still haunts Indian and multinational business giants. Thousands of Indian migrant workers became jobless and homeless due to the brutal lockdown.
The latest surge in Covid-19 and increasing number of Omicron Cases in India is being termed as major reason for the sharp decline in FDI in India. India is in state of paralysis, Modi government miserably failed to handle the disaster.
Indian society is in total disarray, people stigmatizing each other, BJP/ RSS blaming Muslims and Sikhs as the cause of disease transmission. So called shinning India unveiled itself to show its actual face to the world.
International economic experts said a big No on India’s face as International market is quite apprehensive because of Indian crippling financial institution’s record.