# Rupee becomes worst-performing Asian currency; bonds rally in 2020 | NBFC News - Business Standard

> The rupee depreciated about 2.3% in 2020, making it the worst-performing Asian currency, while Indian bonds rallied. The RBI's foreign exchange reserves rose by about $120 billion as it intervened to keep the currency weaker.

- Date: 2020-12-31 · published 2020-12-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/49932-rupee-becomes-worst-performing-asian-currency-bonds-rally-in-2020-nbfc-news
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee, kept that way by RBI reserve buying, raises the local cost of dollar-denominated feed ingredient imports and supports Indian export competitiveness.

## Read by commodity

- USDINR: bullish ▲

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/taking-cues-from-rbi-rupee-depreciates-2-3-bonds-rally-in-2020-120123101438_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.