Chart 1 shows that the number of confirmed new cases has generally stayed at a high level, although having declined after a resurgence since last autumn, mainly in advanced economies such as the United States and the euro area. Under these circumstances, the global economy has picked up on the whole, although the impact of the resurgence of COVID-19 has been seen in part.
Recent information suggests that India’s integration with the world economy is getting stronger, with implications for the conduct of exchange rate policies in the future.