In the G20 Summit, and from the early 8 years Indian Currency (INR) fell against the USD & even the Afghan Currency became a powerful Currency against US Dollar & Indian Rupees. Recently, Afghani (AFN) beat the Indian Rupee, Japanese Yen, Korean Won, Vietnamese Dong, Iranian Rial, Indonesian Rupiah, and Pakistani currencies. Afghani currency (AFN) first time outperformed in a long history due to Indian dominance in fast growth of GDP in the future of the world.
Indian Rupees (INR) is rapidly losing global dominance and all acceptance of the Rupees in abroad countries may make new risky investments of rupee currency to export and import from each currencies in Rupees due to the election in India. The Indian rupee has fallen against the US dollar in the recent week amid the G20 meeting in New Delhi.
why the Indian Rupee (INR) is losing global dominance?
The US Federal Reserve is raising interest rates, making the US dollar attractive for investors of their local currencies. Indian Economy is facing headwinds from rising inflation during war, Assembly Election, Ukraine–Russia long tensions, and Ukraine disrupting global supply chains and causing the commodity prices to skyrocket for the top US Dollar investors Political instability in India is making Investors more complicated because INDIA Alliance are looking to win a big PM Election of India. Indian Stocks and Rupees may fall down up to $1 = 100 INR if Modi and BJP can’t claim the win of 2024. With the fall of Rupees in the last 8 years, investors are nervous and less likely to invest in the country also investing in USD and top currencies to secure the forex trades long term instead of investing in INR (Indian Rupees) and Commodities of India.
The US dollar is destroying all Forex of Asia to reclaim the world’s top powerful international currency.
RBI (Reserve Bank of India) has taken a number of measures to try to decline the fall of Rupees in the Global market to raising interest rates, selling the Dollar, EUR and yuan quota, and Offering new forex traders opportunities to Indian and foreign Exchange Markets to make Rupee Strong with up to 5 rupees against US Dollar like $1 = 83 Rupees and makes this like $1 = 75 Rupees. Foreign countries who are interested in Rupees for the country trade might pressure on Rupee or Indian Government to recover the Rupee against the Dollar to give them a chance to invest in the Rupee. The Indian government is also under pressure from opposition leaders who looking to ask questions about the sudden fall of Rupees and inflation instabilities, Rupees could start to recover before the Election of 2024. If the Rupees continues to fall like this, foreign investors are going to reduce their business or shift their businesses from India to any country because of the unstable value of the Rupee, Companies coming to India will also turn away like Tesla, Micron and Apple and will not invest.