image Source, getty images
published
Reading Time: 8 minutes
When Narendra Modi became the Prime Minister of India for the first time on May 26, 2014, one US dollar was equal to 58.94 Indian rupees.
When Modi came to the elections for the second time, the rupee fell by more than 17 percent and on May 30, 2019, the rupee reached 69.37 against one dollar.
Narendra Modi made the third ticket in June 2024 and the rupee reached the level of 83.38. That means between 2019 and 2024 the rupee declined by more than 20 percent.
Now that two years of the third year have been completed, the earnings against the Rp one dollar are at 96 and have declined by 14.75 percent in these two years. Overall, there has been a decline of 62.33 percent in the 12 years of Prime Minister Narendra Modi’s tenure.
But it is not that money was not lost in the earlier search. Ruth’s presence resides in every establishment on the beach. Even during Manmohan Singh’s 10-year rule (2004-2014), the rupee had fallen by 31.65 percent.
In May 2014, when Manmohan Singh became Prime Minister, the initial price of one dollar was Rs 45.31 and when Manmohan Singh stepped down from the post of Prime Minister, the initial price was Rs 60.
Currently, various serious questions are being raised regarding the sale of Indian currency Rupee. Generally, if the economy of any country is growing faster than its peer countries, then its currency becomes stronger.
But this is not the case with India. Surjeet Bhalla, who was once a fan of Modi’s economic supporters, is also asking the same question that if the economy is booming then why are the rupees coming in?
image Source, getty images
Statistics show that in the last few years, India’s economic growth rate has been higher than that of China, but despite this, the room has become worthless year after year in recent years.
This decline further accelerated last year, when US President Donald Trump imposed heavy import duties on imports from India.
After this, the energy crisis caused by the Iran war kept farmers continuously maintaining new records. In late March and early April the Reserve Bank of India took aggressive steps to demonetise currency notes. But these measures provided only some relief and the outflow of dollars from the country did not stop.
Former Chief Economic Advisor of Modi government Arvind Subramaniam also believes that the rupee is not the only reason for Iran war.
Arvind Subramaniam, in an article in the Indian Express on May 26, wrote, “There was a possibility of annihilating Turkey in the two-three years before the war, had the currency of any country fallen so drastically that the Indian rupee had appreciated.” Even though the Reserve Bank of India intervened on a large scale for that, it had no effect. The RPM fell by more than 20 percent between 2022 and February 2026 while every effort of the RBI failed.
Indian currencies have become weak and the currencies of many Asian countries have joined the railways.
image Source, getty images
malaysia
Malaysia’s currency ringgit remained stable at 9.25 percent last year while India’s RP remained stable at 4.40 percent in the same year.
Malaysia’s currency ringgit has reached its highest level in the last seven years. It broke down to around 4.50 in January 2025, but after that it saw a rapid comeback. The upheaval has made the ringgit the fastest-stampede currency in Southeast Asia.
Many global reasons behind this are going unknown. For example, the confidence of foreign investors in Malaysia is increasing.
The reason behind the stamping of Malaysian currency ringgit was written Nikkei Asia It is written in its report, “The country’s currency consumption surplus and 4.9 percent growth rate in 2025 are also the latest economic reasons behind this.” There has also been a sharp rise in FVAT, due to which the demand for local currency has increased. “Net foreign investment inflows reached 8.5 billion ringgit in the third quarter from July to 2025, compared to just 1.6 billion ringgit in the second quarter.”
“The ringgit’s appreciation is based on growing optimism over Malaysia’s Kashmir kingdom,” Doris Liu, Southeast Asia economist, told Nikkei Asia. “This transformation is a result of Malaysia’s dominant industrial position amid the ambitious industrial empire, expansion of special economic zones, free trade agreements with China, the EU and the Middle East, and ongoing trade tensions with the US.”
image Source, getty images
Later
Currencies on the bench included major Asian currencies that outperformed the US dollar.
The price of BAT stamps fell below $31 per dollar in January, the strategy’s highest level since June 2021.
This was an increase of more than 10 percent from a year earlier.
“Thailand is a small and open economy and we are a joint-dominant country, so the thing is that the cultural community industry is affected,” Thai Deputy Prime Minister and Finance Minister Ekaniti Nitithanprapas said at the World Economic Forum held in Kaevo Das, Switzerland in January.
Ekaniti had cited the surplus of foreign currency consumption as the main reason behind the currency strategy. The trade surplus with the US is expected to surge to $51.3 billion in 2025, compared to $35.6 billion a year ago.
Electronics has played a strategic role in this. Interestingly, the final touches are being given to the statue of Mitro. In a typical Reynolds policy, interest rate differentials are eliminated regardless of the local currency, yet a stable steady state is maintained.
image Source, getty images
Sugar
China’s currency Renminbi (Yuan) reached its highest level in three years against the US dollar.
On May 11, the People’s Bank of China set the renminbi’s daily fixing against the dollar at 6.8467 per dollar, which is the strongest level since March 2023.
Allegations are being made in America and Europe that China’s huge trade surplus is because it has artificially weakened its currency.
Last year the renminbi had fallen against the euro by almost eight percent. Earlier, China’s share in the European Union had reached a record level.
goldman sachs It is estimated that the renminbi is still undervalued by about 20 percent and may further stagnate against the dollar in the near future. Years of deflation have also fueled concerns that China has deprived its youth of real values.
image Source, getty images
Singapore
The currency of Singapore is called Singapore Dollar. The Singapore dollar is also silky against the US dollar. One percent strategy has come in the last five months. Currently there has been an increase of 1.28 Singapore dollars compared to one US dollar.
Valid, Singapore’s further industry has been stenciled by the turmoil at the Global Artificial Institute.
In the same sequence, on Monday, Singapore said that the average growth rate in the first quarter was six percent on a year-on-year basis, whereas in April its estimate was 4.6 percent.
Singapore’s economy grew five per cent last year, better than the earlier estimate of 4.8 per cent.
Singapore recorded extremely static trade figures in April.
The country’s core non-oil sector suffered its fastest growth since 2012 after falling 24.5 percent in April.
A record high of 66.7 percent has been recorded at Electronics Artist, which is seen across Asia and is believed to be part of the wider studio – Electronics Industrial Associates.
image Source, getty images
Pakistan
Even Pakistan’s rupee is stable. The foreign currency has depreciated by 1.31 percent against the US dollar in the last six months while the Indian rupee has depreciated by more than six percent this year. Currently there is a discount of Rs 278 for one dollar.
dubai news website Khaleej Times Hiring has picked up in recent months despite regional tensions, according to Vijay Valecha, chief investment officer at Century Financial. It was followed by a major global March quarter decline in foreign exchange reserves, the biggest decline in a row for oil companies and political threats.
Also, support from Saudi Arabia and Pakistan’s return to the Eurobond market after more than four years underpinned Benjamin’s trusted group and subsidiary.
“The rupee’s stability is more a result of better external portfolio than sustained domestic economic reforms,” Vijay Valecha said. This cultural stability of the rupee may go further, but the bulk of the good news has already entered the market. “If oil remains stable, foreign exchange reserves improve, remittances remain studious and external funding continues, shares and ratings may recover.”
image Source, getty images
What is the effect of fall in rupee?
Weak posture has the most direct impact. When the rupee falls, so does the value of appliances like oil, cooking gas, bread and electronics. Buys from Document Documents from India.
Fake HDFC equities are forced to look into the new market as their returns are visible.
By the end of May, foreign dollars sold a record 23 billion shares in Indian markets.
Current account for india from local stock exchange to foreign markets has started to stock florida.
However there is another side to it also. Broken Chips has more Indian partners, as Indian partners have engineers and chip partners.
This could help mitigate some of the impact of US tariff pressure, especially at a time when India is trying to increase trade ties with countries like the UK.
It is also beneficial for those families from vulnerable groups who rely on the money given by the Indians working in the camps, because they get more rupees for every dollar.
India got rebate of more than 135 billion dollars in one year till March 2025.
Published by Tomorrow’s Interview Newsroom for the BBC.