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CARE Ratings Research Report
The rupee turned out to be one of the weakest performing currencies this month as the table below shows.
The dollar did weaken against the euro by 2.6% by the end of the month in comparison with March 31, 2021 which should have ideally pulled all currencies up.
(Even in terms of average for weeks the dollar declined by 2.8% relative to last week of March).
This is different from what it was in March when the dollar strengthened. However, only the Turkish lira and Indian rupee fell.
The rupee which was at Rs 73.17/$ on March 31 ended at Rs 74.06/$ by April 30.
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