Indian #Rupee Collapses – Worst Day In 20 Years

Since May 2nd, holders of paper Rupee have lost 18% of their purchasing power while those that held gold instead have seen their ‘wealth’ appreciate 13% in local purchasing power.

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Presented with little comment (over our earlier detail) but just to note that around the world there are significant events occurring (even as the US equity market slumbers). So much for the gold coin ban – gold now trades at 4 month highs in Rupee terms. Today’s 1.46 Rupee slump is the largest in absolute terms since 1993… (the largest single-day percentage depreciation since 9/22/2011)… and the last 4 weeks’ move is the largest since 1991… And just for fun, since May 2nd, holders of paper Rupee have lost 18% of their purchasing power while those that held gold instead have seen their ‘wealth’ appreciate 13% in local purchasing power. Charts: Bloomberg
 
 

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Indian Rupee Collapses – Worst Day In 20 Years

Presented with little comment (over our earlier detail) but just to note that around the world there are significant events occurring (even as the US equity market slumbers). So much for the gold coin ban – gold now trades at 4 month highs in Rupee terms.

 

Today’s 1.46 Rupee slump is the largest in absolute terms since 1993… (the largest single-day percentage depreciation since 9/22/2011)…

 

and the last 4 weeks’ move is the largest since 1991…

 

And just for fun, since May 2nd, holders of paper Rupee have lost 18% of their purchasing power while those that held gold instead have seen their ‘wealth’ appreciate 13% in local purchasing power.

 

Charts: Bloomberg

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