This month's calendar wallpaper plots the increase/ decrease in Indian Exports due to weakness/ strength in the Indian Rupee.
Economic theory suggests that Indian exports should increase if the Rupee depreciates. However, examination of data shows that, contrary to popular theory, Indian Exports have not increased much due to Rupee weakness.
The implication of this discovery is that it reduces the need for Rupee depreciation as a policy tool for increasing Indian Exports.
You can download this chart as part of our January 2017 Wallpaper Calendar.