At least 10 international currencies have appreciated more than the Indian rupee against the US dollar during the last 12-18 months.
While in the last 12 months, the rupee appreciated 7.3 per cent against the dollar, it rose 8.8 per cent since September 30, 2003. The rupee closed at 44.07 to a dollar on Monday.
While the Philippines and Mexican pesos have depreciated against the US dollar during the period, the Pakistani rupee, South Korean won, Indonesian rupiah and Singapore dollar have appreciated less than the rupee. The Chinese renminbi, Malaysian ringgit and the Hong Kong dollar, however, remained unchanged.
In the last 12 months, the Argentinean peso has depreciated 2 per cent to the US dollar. Overall, during the last 18 months, it has appreciated over 22 per cent to 2.889 pesos to a dollar.
In the last 12 months, the South African Rand has appreciated the most among 22 currencies, rising over 19.5 per cent to 6.393 to the dollar. Since September 30, 2002, the currency appreciated nearly 39 per cent.
The Brazilian reais appreciated 13 per cent to 2.937 to a dollar during the last 12 months. Since September 2002, the currency appreciated 22.42 per cent.
Since March last year, the Russian rouble rose 9.15 per cent to 28.49 to a dollar, while it has appreciated over 10 per cent since September 2002.
The Thai baht has moved largely in line with the Indian rupee appreciating 7.71 per cent to the dollar.
The baht stood at 39.585 to the dollar on March 29 this year. Since September 30, 2002, the currency has depreciated 8.36 per cent to the US dollar.
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