Reserve Bank of India (RBI) has stated in its latest monthly update that the Indian rupee (INR) depreciated against the US dollar in November, pressured by the strengthening of the US dollar, muted foreign portfolio flows, and uncertainty surrounding the India-US trade deal. The volatility of INR, as measured by the coefficient of variation, moderated in November from a month ago and remained relatively lower than most major currencies. In December so far (up to 19), the INR depreciated by 0.8 per cent over its end-November level. In real effective terms, the Indian rupee remained stable in November, as depreciation of the INR in nominal effective terms was offset by higher prices in India vis-vis its major trading partners.
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