I was just forwarded this ‘forex’ riddle on Whatsapp by a financial consultant I respect a lot.
It surprised me as to how he had missed the OBVIOUS while asking :
” Is the rupee really depreciating? Eye opening data….
I can say in last two years two major strong economy in this era were usa and india….
In August 2013, when rupee was at its worst…
1 USD = ₹ 67
1 EUR = ₹ 88
1 CAD = ₹ 63
1 AUD = ₹ 61
1 SGD = ₹ 53
Today, November 2016,
1 USD = ₹ 69
1 EUR = ₹ 72
1 CAD = ₹ 51
1 AUD = ₹ 51
1 SGD = ₹ 48
Except the USD, our Indian Rupee has very strongly APPRECIATED against all major currencies in the world since 2014.
Then why is media always saying Rupee is getting weaker day by day ? Doesn’t the above data mean that Rupee is getting stronger, but the USD is getting even more stronger ?
Expert comments are welcomed.”
What is MISSING IN THIS ARGUMENT that is most obvious?
Please comment and I will reveal my answer tomorrow (I got a thumps up from my consultant when I messaged him my reply)