New Delhi, April 9 -- The depreciation of the Indian rupee against the US dollar in March reflects the workings of a market-determined exchange rate system amid global uncertainties, while also opening up opportunities for Non-Resident Indian (NRI) investors, according to experts.
According to data, the rupee depreciated by over 3pc alone in March in terms of USD, which is led by war escalation in West Asia and surging crude prices in international markets.
Adhil Shetty, CEO & Co-Founder of BankBazaar, said comparisons of the rupee's depreciation with other currencies should be made carefully, keeping in mind the differences in exchange rate frameworks.
"The comparison needs to be viewed in the context of differing exchange rate framewor...