Unraveling the good, bad and ugly of rupee’s recent slump | Number Theory
The Indian rupee is nearing a significant milestone of 100 against the dollar, prompting widespread interest and analysis of its exchange rate. Historical comparisons reveal that while the current depreciation is concerning, it is not among the worst in India's history. Factors such as capital flows and rising oil prices are contributing to the rupee's decline, despite a general weakening of the dollar itself.
- ▪The rupee has depreciated 11.2% against the dollar over the past year, ranking as the 15th sharpest depreciation in history.
- ▪Compared to other Asian currencies, the rupee has performed poorly, being the worst performer year-to-date with a 6.9% fall.
- ▪The rupee's decline is not solely due to dollar strength, as the broad dollar index has actually decreased since the end of 2024.
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Unraveling the good, bad and ugly of rupee’s recent slump | Number TheoryWith the rupee at the cusp of hitting 100 against a dollar, everybody is interested in, and has, a view on the exchange rate right nowPublished on: May 23, 2026 6:52 AM ISTBy Sreedev KrishnakumarShare viaCopy link With the rupee at the cusp of hitting 100 against a dollar, everybody is interested in, and has, a view on the exchange rate right now. Views and predictions aside, how does the situation look like, historically speaking? HT has looked at the numbers to distil the good (there is), the bad and the ugly of the current churn in the foreign exchange markets right now.
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