In terms of pointto-point variation, Rupee has marginally appreciated by about 0.5 per cent during the above period, while other currencies have witnessed depreciation, viz.
Russian Rouble (16.9 per cent depreciation), South African Rand (7.4 per cent), Turkish Lira (5.8 per cent) and Brazilian Real (3.4 per cent).The contagion effect of sharp fall in Argentine Peso against the US dollar in the second half of January 2014 also did not have any major impact on the Rupee.