Indian rupee is the best performing currency of Asia in 2024: Report

Indian rupee is Asia's best performing currency so far in 2024, despite touching an all-time low of 83.58 per US dollar this month, Bloomberg reported. 

It has depreciated 0.12% on a year-to-date basis in comparison to a 3.32% advance in US Dollar Index. 

Experts attributed the rupee's resilience to strategic interventions by RBI and strong growth of the Indian economy.

The Lok Sabha election can indeed have an impact on the trajectory of the rupee.

The general election does not raise alarm bells for foreign investors. The Bharatiya Janata Party is anticipated to secure a significant majority in the lower house of Parliament, according to BNP Paribas.