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Once Indian currency was the worst in Asia, Now it has become the Best | The Youth Report

In a sensational development, India’s rupee just escalated from Asia’s worst to best currency. Just 5 weeks ago, Indian rupee was labelled as Asia’s worst-performing currency, but there came a drastic change in improvement as it has now become Asia’s best-performing currency.

It has been learnt that improvement in Prime Minister Narendra Modi’s chances of sealing the second term and the recent fall-out in tension between India and Pakistan are two main reasons behind the rupee’s appreciation.

Credits: Jagran

An economist told the Bloomberg publication that the value of the rupee will enhance further if Modi wins a second term. As of now, the value of rupee stands at 68.82 against the US dollar.

The expert said, adding that the Indian rupee could actually get better to 67 per dollar by the end of June. Another analyst said the market is anticipating a Modi wave across the nation one more time.

Analysts also expect the rupee to remain “strong” in the times to come and a convincing win for the BJP-led government will be a good development for the rupee.

Written by Sagar Abhinandan

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