The Indian Rupee experienced a drop of over 11% in 2022, marking its worst performance since 2013.

Date - 01/01/2023 The depreciation of the Indian Rupee in 2022, with a decline of over 11 percent against the United States Dollar, marks the most detrimental performance for the currency since 2013 and the most severe degradation among Asian currencies. This depreciation can be attributed to the aggressive monetary policy implemented by the Federal Reserve, which led to a substantial increase in the value of the US Dollar. By the conclusion of 2022, the value of the Indian Rupee was recorded as 82.61 in comparison to the US Dollar, in contrast to its value of 74.29 at the end of 2021, resulting in the US Dollar recording its largest annual gain since 2015. Although the Indian Rupee faced a challenging year, it outperformed several other global currencies, such as the Turkish Lira and the British Pound. The increased volatility in the foreign exchange market, caused by the surge in global oil prices due to the conflict between Russia and Ukraine, necessitated the Reserve Bank of India to frequently utilize its reserves in order to combat the imported inflation that posed a threat to policymakers. From mid-October, the Indian Rupee has stabilized and has been trading in close proximity to its long-term trend, as indicated by the Financial Stability Report released by the Reserve Bank of India. The currency market's volatility during the year was instigated by the outbreak of the war between Russia and Ukraine in February, disrupting the global supply chains and exacerbating inflationary pressures and expectations worldwide. Note – Every photo is symbolic (Photo Source: Google) All news and stories given on this website are reported by the reporter or taken from some source. Our endeavor is and will continue to provide you with the best information. The responsibility of this news and other things will be with the author (reporter) and the source.