Bitcoin Darjeeling on Nostr: In 2020, #India's forex reserves were $500B. And then Trump printed 25% more USD ...
In 2020, #India's forex reserves were $500B. And then Trump printed 25% more USD (~$125B).
Obviously, that action there also devalued #INR here immediately. Effects of it took longer to get witnessed. 2024 reserves are $650B which has risen in the same rate. INR is loosing its value as the same rate. We Indians don't realize this quickly. But INR and USD are very tightly connected.
Published at
2024-08-01 10:53:20Event JSON
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"content": "In 2020, #India's forex reserves were $500B. And then Trump printed 25% more USD (~$125B). \nObviously, that action there also devalued #INR here immediately. Effects of it took longer to get witnessed. 2024 reserves are $650B which has risen in the same rate. INR is loosing its value as the same rate. We Indians don't realize this quickly. But INR and USD are very tightly connected.",
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