After a week of turmoil in markets over bank failures in major economies, Asian shares and currencies rebounded on Friday, as the dollar index fell 0.3%.
The rupee was down 0.5% to the dollar and has been an underperformer among Asian peers. The offshore Chinese yuan was up 0.9%, leading Asian currencies higher.
Majority of the country's deficit is due to negative balance in merchandise account. India usually runs a surplus in services & remittances, but incurs deficit in trade of merchandise.
ThePrint analysed exchange rate & trade data from April 2012 to September 2022, which shows there’s little relation between the rupee movement and performance of exports.
The Delhi CM said 'India will prosper' if photos of the deities are put on the notes. He also cited the example of Indonesia, a Muslim nation, that has a Ganesha on its currency note.
The rupee is tipped at around 82.82-82.86 to the dollar at open compared with 82.76 in the previous session. On Thursday, rupee dipped to a record low of 83.25.
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