The Indian rupee (INR) depreciated by 2.9 per cent in the first nine months of FY25, performing better than other currencies like the Canadian dollar, South Korean won, and Brazilian real, which depreciated more significantly. The INR's movement is influenced by factors such as global economic trends, crude prices, interest rates, and geopolitical tensions. The nominal effective exchange rate (Neer) remained stable, while the real effective exchange rate (Reer) steadily appreciated.Original Article