New Delhi: With just a week left in this disastrous year of COVID-19, the Indian rupee has been the worst-performing currency in Asia in 2020.
The Indian rupee is down 3.5% this year, having closed at 73.85 per US dollar on Tuesday. Even currencies of economically weak nations like Pakistani rupee and Sri Lankan rupee have done comparatively better, reported Reuters.economy
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Some of the Asian currencies have also appreciated, like the Chinese yuan, Philippine peso, South Korean won, Malaysian ringgit and Thai baht.
Like most other countries, India’s economy took a major hit due to the coronavirus pandemic. India’s GDP fell by an alarming 23.9% in Q1 of 2020-21 and 7.5% in the second quarter.
