Getting towards a global competent economy
There is a good news coming in the country from international streets of economy and wealth. The Indian rupee has placed itself as one of the best-performing currency, according to the data by the Bloomberg. Rupee has seen a total return of 1.04% in the current financial year that has placed it at the fourth spot. Indian rupee is behind the Indonesian currency at number three, Japanese yen at number two and Singaporean dollar at number one.
The best thing for the relief of Indian economy well-wishers is that INR has left China behind in the terms of its currency yuan. China is staying two spots behind India on the list at number six. Total returns include the spot exchange rate and interest income.
Praise should go the RBI as well for their management of Indian rupee. Amid the turmoil when Raghuram Rajan took over as the governor of RBI, he has managed the competency of Indian rupee very well and kept it in the market standing strong. This leap by Indian currency is likely to promote the investors in Indian rupee and somewhere it will boost the make in Indian campaign which is the dream of Modi government.
India, never to deny, has to cover larger ground in order to stand in the competition with its competitors Singapore, Japan and Indonesia. They are far ahead of us now. The only way to be able to stand in that position is sustaining the growth that we have been achieving in the recent years.