Apropos recent statements issued by the US-India Relationship Council (USIRC) regarding US India economic partnership, sources inform that the Indian currency INR faces continuing depreciation against the American currency USD in the deliverable regular currency market and non‐deliverable forward (NDF) currency market.

This is despite relatively very strong fundamentals of Indian economy comprising of low domestic inflation, low domestic interest rates, prudent monetary and fiscal systems, the fastest rate of growth of GDP, more increasing exports compared to increasing imports, fast improving infrastructure, rapidly improving "ease of doing business" status, humongous and concerted push for manufacturing, robust growth of services as well as agriculture, good governance without scams, hedged and controlled convertibility of INR in the currency market and rapidly growing high remittances with huge inflows of USD and well-controlled debt.

It is noteworthy that in the last four years of the outgoing administration, the US has witnessed a steep rise in debt and many other parameters cited above have led to concerns related to inflation etc.

It may be noted that Indian exports comprise valuable useful essential goods and services. It may also be noted that remittances to India comprise the hard-earned monies of Indians in the US and other countries.

Despite this scenario, INR is weak and getting weaker against USD. Searching for reasons for "weakening" INR and its politicisation by globalist elements at home and outside, we found that of all currencies, INR is the highest traded currency in the NDF market.

This in effect is even higher when we take into account that the Indian economy is at fifth place in volume and GDP growth rate.