Last week, the Indian rupee fell to a record low. From a year high of nearer to Rs. 63 to a US dollar, it fell to Rs. 69 to a US dollar. Considering the global climate at the moment – America’s trade wars, and the Iran oil ban – this seemed like the end of the world for the Indian economy.
Then again, we had a similar response ten years ago when the rupee fell to Rs. 43 to a US dollar. Considering the 26 rupee jump since 2008, should we be more worried or calmer?
In our new series called the Business of Life, TheBigScope aims to explore the inner workings of money usages that we tend to forget about. From smaller 2-min explainers such as this delve into forex (foreign exchange) fluctuations to deep dives like our take on the dark side of dog breeding in India – which you can watch here – we hope to shed some lights on everyday transactions that deeply affect our world.
You can also listen to this explainer as podcast here.