The authors find that the estimated effects of US QE on the emerging economies – while quite diverse across countries – are in many cases larger than those in the advanced economies, including the United States.
It had touched a high of 39.27 in Nov 2007. As the crisis unfolded, the trend reversed and Rupee started depreciating and reached 52.06 in March 2009. The Rupee started correcting soon and for almost two years between Nov 2009 and Aug 2011, remained range-bound at 44–47 levels.