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@article{171592,
        author = {Asmi Raza},
        title = {India and Looming Global Currency Wars},
        journal = {International Journal of Innovative Research in Technology},
        year = {2024},
        volume = {11},
        number = {8},
        pages = {274-283},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=171592},
        abstract = {Nations vie with each other in the global currency war by devaluing their respective currencies to gain a competitive edge. India is no exception to this global phenomenon. Volatility in the exchange rate of the rupee compared to other major currencies invites intervention by the Reserve Bank of India in the foreign exchange market to save the rupee. The depreciation of the Chinese yuan has significantly increased India's trade deficit with China due to Chinese goods becoming more affordable and alluring to Indian consumers while the US dollar's appreciation has proved instrumental in increasing the cost of Indian exports, hurting the nation's exports and economic expansion. An array of steps have been taken by India to combat the effects of the global currency war and to lessen their negative effects in addition to maintaining a stable rupee exchange rate.},
        keywords = {Currency wars, US dollar, yuan, Reserve Bank of India, developing countries, India},
        month = {December},
        }