INDIAN RUPEE STAYS MORE RESILIENT IN 2009

Even as the rupee hovers at a new lifetime low of Rs 51.1 to a dollar, did you know that the Indian currency has been among the more resilient in 2009?

Taking the recent slide into account, the Indian rupee has depreciated only by about 4.7 per cent so far in 2009. After clinging to an exasperatingly narrow range between Rs 48 and Rs 49 since the beginning of 2009, the rupee took a decisive step lower on February 17.

But many of the other Asian currencies have been weaker and have been steadily depreciating since the beginning of 2009.

The Hindu Business Line