Dollar's Dominance over Rupees over Decades
This analysis aims to explore the dominance of the dollar over the rupees over the decades, shedding light on the RBI's strategy to reduce this dominance and examining the possibility of de-dollarization discussions within BRICS. By understanding the historical relationship between the dollar and the INR, this analysis will provide valuable insights for future studies. The objective is to gain a deeper understanding of the dynamics between these currencies and assess the potential implications for the future.
Downloading the Dataset
USD/INR Historical dataset for the year 2003-2021- source-https://www.kaggle.com/datasets/meetnagadia/us-dollar-inr-rupee-dataset20032021
USD/INR Historical dataset for the year 2022-2023- source- https://www.marketwatch.com/investing/currency/usdinr/download-data
Dollar inflow in India-source-https://www.macrotrends.net/countries/IND/india/foreign-direct-investment
Let's begin by downloading the data, and listing the files within the dataset.
import pandas as pd
usd_inr_stock_df=pd.read_csv('usd_inr_daily.csv')#dataset contains data fromm 2022-2023
usd_inr_stock_dfThe dataset has been downloaded and extracted.