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Economy and Finance

Indian Rupee stable while Chinese Yuan is falling: A feather in Modi government’s cap to keep currency stable in pre-election year

Omkar G - 25 January, 2024

The Indian rupee (INR, ₹) held steady against the U.S. dollar in 2023, depreciating just 0.5% to end the year at 83.17 per USD. Notably, the Chinese yuan and the Korean won, currencies of current account surplus nations, depreciated by nearly 3%.

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