Rupee becomes worst-performing Asian currency; bonds rally in 2020

Rupee has depreciated 2.3 per cent in this calendar year

Bonds closed stronger on the last day of 2020 and the rupee weaker as the Reserve Bank of India (RBI) followed opposite strategies for the two throughout the year.
 

The rupee ended at 73.1 a dollar on Thursday, against 71.4 at the end of 2019. It has depreciated 2.3 per cent in this calendar year, becoming the worst-performing currency in Asia. The rupee’s performance is also in sync with the aggressive foreign exchange reserve accumulation by the RBI.
 

According to the latest numbers, as of December 18, India had $581 billion-plus of foreign exchange reserves. This is an increase of $120