Rupee continued its decline in 2nd week of the new year

While analysts stand divided on the short-term impact of the election’s outcome, they are certain that it won’t have a significant impact on the long-run.

After a blockbuster 2017, India’s equity markets witnessed extreme ups and downs in 2018. Billions of dollars were wiped out from the market, owing to factors such as the US-China trade war, US Fed rate hikes, sharp spikes in crude oil prices, rupee depreciation, IL&FS and NBFC liquidity crisis, multiple state elections and brewing tension between the RBI and the Central government.

“General elections, going back two decades, have had no visible impact on market direction. But the upcoming elections in April-May 2019 should keep noise levels high. Further, agriculture is likely to remain a source of distress for 200 million workers for several years: this can cause political churn and also policy experimentation (so more uncertainty),” said Credit Suisse in its recent report.

  • Rupee depreciated this week by ₹0.70 compared with the previous week close.
  • Last week Indian rupee closed at ₹70.49 with the aggregate loss of ₹0.77
  • Last trading day of the week Rupee closed at ₹71.18 with the loss of 0.14 paisa.
  • Highest gain ₹0.19 on Thursday and highest fall ₹0.45 on Monday of the week.


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