'Real' depreciation of rupee against dollar is between 6-7%: IMF estimate
Compared to December 2017, the real effective depreciation of Indian rupees is between six and seven per cent, says an IMF estimate. Broadly since the beginning of the year, Indian rupee has lost about 11 per cent of its value in nominal terms vis a vis the US dollar", said IMF spokesperson Gerry Rice, responding to a question on the fall of the Indian currency in the last few months. He, however, said the currencies of many of India's trading partners, including those in the emerging markets, too have depreciated against the dollar. As a result, so far this year the real effective depreciation of the Indian rupees compared to December 2017 is, by our estimates, between six and seven per cent, Rice said. Read Complete Article