Rupee's Descent: A Canary in the Coal Mine for Emerging Markets The rupee's free fall against the US dollar is a stark reminder that India's economic resilience is not as robust as it seems.
Over 14% depreciation in just over a year has seen the currency breach record lows of nearly 97 to the dollar, prompting concerns about its future trajectory.
India's dependence on oil imports is a significant concern, exacerbated by higher prices. The country's trade deficit is widening, with exports failing to offset the outflow of dollars for imports.