Indian Rupee Performed Better Than Currencies of Canada, Korea, and Brazil

The Indian rupee (INR) depreciated a modest 2.9 per cent in the first nine months of the current fiscal, performing better than other currencies like the Canadian Dollar, South Korean Won, and the Brazilian Real, according to the Economic Survey tabled in Parliament on Friday.

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NEW DELHI:

The value of INR is market-determined, with no target or specific level or band. Various domestic and global factors influence the exchange rate of the INR, such as the movement of the Dollar Index, trends in capital flows, level of interest rates, movement in crude prices, and current account deficit.