Rupee doing well as compared to other currencies against US dollar, says World Bank economist

Continuous hike of key rates by the US Fed has led to the strengthening of dollar at the rupee's expense.

IANSUpdated: Tuesday, December 06, 2022, 09:42 PM IST
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The rupee has done relatively better in 2022 compared to other emerging markets, World Bank economist Dhruv Sharma said on Tuesday.

In the last one year, the rupee has depreciated by around 10 per cent and though it may sound like a huge figure, compared to other emerging economies, India has not done badly, said Sharma on the occasion of the release of World Bank's India Development Update, which upgraded GDP growth to 6.9 per cent from the earlier 6.5 per cent.

Continuous hike of key rates by the US Fed has led to the strengthening of dollar at the rupee's expense.

In the last one month, the rupee has hit a low of 83 against the dollar and has been hovering in the range of 82.

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