India Real Effective Exchange Rate in 2015
India Real Effective Exchange Rate opened 2015 at 95.13 and closed at 97.27, a +2.25% move for the year. The high of 97.98 was reached on November 1, and the low of 94.04 on May 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 95.13 | 95.13 | 95.13 | 95.13 | +0.00% |
| Feb | 95.78 | 95.78 | 95.78 | 95.78 | +0.00% |
| Mar | 96.63 | 96.63 | 96.63 | 96.63 | +0.00% |
| Apr | 96.02 | 96.02 | 96.02 | 96.02 | +0.00% |
| May | 94.04 | 94.04 | 94.04 | 94.04 | +0.00% |
| Jun | 95.45 | 95.45 | 95.45 | 95.45 | +0.00% |
| Jul | 97.10 | 97.10 | 97.10 | 97.10 | +0.00% |
| Aug | 96.86 | 96.86 | 96.86 | 96.86 | +0.00% |
| Sep | 96.01 | 96.01 | 96.01 | 96.01 | +0.00% |
| Oct | 97.67 | 97.67 | 97.67 | 97.67 | +0.00% |
| Nov | 97.98 | 97.98 | 97.98 | 97.98 | +0.00% |
| Dec | 97.27 | 97.27 | 97.27 | 97.27 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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