Lok Sabha Question No. 3794 (UNSTARRED), answered on 2025-03-24
Subject: Rupee Volatility against dollar and major currencies
Ministry: FINANCE
Asked by: Shri Dilip Saikia, Shri Khagen Murmu, Shri Praveen Patel

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO. 3794

TO BE ANSWERED ON 24.03.2025

## RUPEE VOLATILITY AGAINST DOLLAR AND MAJOR CURRENCIES

†3794. Shri Dilip Saikia: Shri Praveen Patel: Shri Khagen Murmu:

Will the Minister of FINANCE be pleased to state:

- (a) the  volatility  of  the  Rupee  against  dollar  and  other  major  currencies  during  the calendar year 2024;
- (b) the performance of the Rupee against Dollar and other currencies; and
- (c) the volatility of the Rupee against Dollar and other major currencies during the last decade (2014-24) as compared to the decade between 2004-14?

## ANSWER

## THE MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY)

- (a) The volatility of the Indian Rupee (INR) against the US Dollar (USD) and other major currencies during the calendar year (CY) 2024 is given below.
- (b) The performance of INR and other currencies against USD is given below.
- (c) The volatility of the INR against the USD and other major currencies during 2014-24 and 2007-14 is given below.

| Table 1: Realized one-month historical volatility of INR against USD &other currencies in CY 2024   | Table 1: Realized one-month historical volatility of INR against USD &other currencies in CY 2024   | Table 1: Realized one-month historical volatility of INR against USD &other currencies in CY 2024   | Table 1: Realized one-month historical volatility of INR against USD &other currencies in CY 2024   |
|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|
| Currency                                                                                            | High                                                                                                | Low                                                                                                 | Average                                                                                             |
| US Dollar                                                                                           | 2.84                                                                                                | 0.51                                                                                                | 1.35                                                                                                |
| Chinese Renminbi                                                                                    | 6.10                                                                                                | 1.31                                                                                                | 3.12                                                                                                |
| Thai Baht                                                                                           | 11.15                                                                                               | 3.86                                                                                                | 7.34                                                                                                |
| Indonesian Rupiah                                                                                   | 12.61                                                                                               | 3.39                                                                                                | 6.16                                                                                                |
| Euro                                                                                                | 9.37                                                                                                | 3.04                                                                                                | 5.45                                                                                                |
| Japanese Yen                                                                                        | 16.83                                                                                               | 3.96                                                                                                | 9.83                                                                                                |

Source: Bloomberg

High/Low: Refers to highest/lowest monthly volatility during

the year

| Table 2: Performance of Rupee and other currencies against USD during financial year 2024-25*   | Table 2: Performance of Rupee and other currencies against USD during financial year 2024-25*   |
|-------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------|
| Currency                                                                                        | Appreciation (+) / Depreciation (-)                                                             |
| South Korean Won                                                                                | -7.17%                                                                                          |
| Canadian Dollar                                                                                 | -5.30%                                                                                          |
| Indian Rupee                                                                                    | -3.65%                                                                                          |
| Indonesian Rupiah                                                                               | -3.47%                                                                                          |
| Philippine Peso                                                                                 | -1.89%                                                                                          |
| Chinese Renminbi                                                                                | -0.04%                                                                                          |
| Japanese Yen                                                                                    | +1.39%                                                                                          |
| Euro                                                                                            | +1.44%                                                                                          |
| Source: Bloomberg *Data is as of March 18, 2025                                                 | Source: Bloomberg *Data is as of March 18, 2025                                                 |

| Realized one-month historical volatility of INR against USD and other major currencies   | Realized one-month historical volatility of INR against USD and other major currencies   | Realized one-month historical volatility of INR against USD and other major currencies   | Realized one-month historical volatility of INR against USD and other major currencies   | Realized one-month historical volatility of INR against USD and other major currencies   | Realized one-month historical volatility of INR against USD and other major currencies   | Realized one-month historical volatility of INR against USD and other major currencies   |
|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|
|                                                                                          | 2014-2024 (Jan 1, 2014 to Dec 31, 2024)                                                  | 2014-2024 (Jan 1, 2014 to Dec 31, 2024)                                                  | 2014-2024 (Jan 1, 2014 to Dec 31, 2024)                                                  | 2007-2014 (Jan 1, 2007 to Dec 31, 2014)                                                  | 2007-2014 (Jan 1, 2007 to Dec 31, 2014)                                                  | 2007-2014 (Jan 1, 2007 to Dec 31, 2014)                                                  |
| Currency                                                                                 | High                                                                                     | Low                                                                                      | Average                                                                                  | High                                                                                     | Low                                                                                      | Average                                                                                  |
| US Dollar*                                                                               | 10.01                                                                                    | 0.51                                                                                     | 4.24                                                                                     | 23.46                                                                                    | 2.14                                                                                     | 7.77                                                                                     |
| Chinese Renminbi                                                                         | 13.45                                                                                    | 1.31                                                                                     | 5.50                                                                                     | 27.41                                                                                    | 1.74                                                                                     | 7.97                                                                                     |
| Thai Baht                                                                                | 12.73                                                                                    | 2.20                                                                                     | 6.20                                                                                     | 25.14                                                                                    | 2.07                                                                                     | 7.77                                                                                     |
| Indonesian Rupiah                                                                        | 21.44                                                                                    | 2.27                                                                                     | 6.62                                                                                     | 48.06                                                                                    | 2.36                                                                                     | 10.53                                                                                    |
| Euro                                                                                     | 22.10                                                                                    | 3.04                                                                                     | 7.83                                                                                     | 27.12                                                                                    | 4.45                                                                                     | 10.65                                                                                    |
| Japanese Yen                                                                             | 33.77                                                                                    | 3.56                                                                                     | 9.63                                                                                     | 39.28                                                                                    | 5.09                                                                                     | 13.88                                                                                    |

Source: Bloomberg

-  Data is available from 2007
-  *USD data available from July 23, 2007

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