EPI - India: Rupee's Significant Risks Ahead Of April Election
Originally published on Feb. 21, 2019
By Erik Norland
The Chinese renminbi and Indian rupee weathered last year's emerging market turbulence with greater aplomb than currencies of the other BRIC members, the Brazilian real and Russian ruble (Figure 1). While India's currency enjoyed a relatively calm 2018, the general elections coming up in April hold out the possibility of a much more challenging year for the rupee.
Figure 1: The Rupee Performed Well During Emerging Market Turbulence in 2018
In the months prior to the India's last election in April 2014, the rupee strengthened by