The Indian Rupee has plunged to 72 against the US dollar, hitting an 8 month low and is being called “the worst-performing currency in Asia”. The downward spiral is partially due to Trump’s trade war with China and slowdown in the Indian economy. Trump’s trade war against China has traders on edge and many are betting on the USD as the safest currency on the planet. This rise in positive perception of USD coupled with the current economic slump in our domestic market has the Rupee, seemingly, in freefall.
The news has taken over Twitter by storm with people choosing sides arguing how the devaluation will help the export economy, while others point out that India imports 80% of its crude oil and that the fall in value is not a boon in disguise.
But while the debate rages on, there are those who aren’t wasting the opportunity to crack jokes and take a dig at anyone and everyone. Here are a few for your entertainment.
While we do not want to make comments on whether this is good or bad for the economy, we don’t mind laughing at these jokes and being proud of how freedom of speech is a fundamental right in India.