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ORIGINAL SIN, CURRENCY DEPRECIATION AND EXTERNAL DEBT BURDEN: EVIDENCE FROM INDIA
2020
International Journal of Economics and Financial Issues
Indian Rupee has depreciated around 50% against the US Dollar for the last two decades. This depreciating trend generally does not call for any policy interventions as the conventional theories state that it is advantageous for the domestic economy through the competitiveness effect. However, depreciation is expected to increase the external debt burden when the country borrows abroad in foreign currency. At present, more than 63% of India's external debt is foreign currency-denominated. Given
doi:10.32479/ijefi.9487
fatcat:vl2i2h77nvfsvhjidci7nxgssu