The stealth currency collapse in January 2020.

You will never see this on any Business channel in India, but...

There has been a spectacular collapse in most major currencies against the US dollar just last month.

*-Against USD till Feb 18, 2020

Given that the INR is a highly overvalued currency, can anybody say with certainty, that the INR won't depreciate, and severely at that?

And a history of the INR shows that depreciation tends to be in violent moves, rather than orderly changes

Take a look at this table.

Brazilian Real


S. African Rand


Thai Baht


Australian Dollar




Russian Ruble


Singapore Dollar


South Korean won


Canadian Dollar


GB Pound


Mexican PESO


Japanese YEN


The net result is this: in US dollar terms, the Indian stock market has delivered abysmal returns over the past several years.

Around 2% CAGR over 5-6 years

Around 0% over 10 years

Now that is quite a shocker, isn't it?

At First Global, our Mantra, since the past 23 years has been global diversification of investments and ideas

Because it is only through Global diversification that you can avoid SCCARS (Single Country Single Currency Single Asset Risks)

From the desk of

Devina Mehra

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