Cryptocurrency

Rupee

Monero

April

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 <p class="paragraph">Monero (XMR) is the leading privacy cryptocurrency with an enthusiastic community of supporters constantly promoting its characteristics as digital cash. Nevertheless, Monero is also a controversial form of money in the highly-regulated traditional finance.</p>
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 <p class="paragraph">Interestingly, a Monero ad is circulating in India’s traditional English <a rel="noopener noreferrer nofollow" title="newspaper" href="https://thebittimes.com/tag/newspaper.html">newspaper</a>: <em>The Economic Times</em>. The pseudonymous <em>Stoic</em>, author of “The Monero Standard,” shared a picture of the <a rel="noopener noreferrer nofollow" title="newspaper" href="https://thebittimes.com/tag/newspaper.html">newspaper</a>’s November 16th edition. In the picture, it is possible to see the paper’s opened front page with a large ad about XMR.</p>
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  <p class="paragraph">“Monero transactions respect your privacy. Can you say that about the INDIAN RUPEE or the U.S. DOLLAR?”</p>
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 <p class="paragraph">Moreover, the ad also includes a QR-Code for donations in “XMR only,” which suggests its owner is expecting to <a rel="noopener noreferrer nofollow" title="crowdfund" href="https://thebittimes.com/tag/crowdfund.html">crowdfund</a> what was spent for this insertion.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="734" height="1024" src="https://cdn.thebittimes.com/images/2023/11/16/8fbe7a1f942b6304a9a2088e68a4a123.webp" alt="India: The Economic Times, November 16 edition. With a Monero ad" class="wp-image-137786" srcset="https://cdn.thebittimes.com/images/2023/11/16/8fbe7a1f942b6304a9a2088e68a4a123.webp 734w, https://cdn.thebittimes.com/images/2023/11/16/8fbe7a1f942b6304a9a2088e68a4a123.webp 215w" sizes="(max-width: 734px) 100vw, 734px">
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   The Economic Times (India), November 16 edition. Source: <em>Stoic.xmr</em>
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 <h2 class="wp-block-heading" id="h-monero-vs-the-indian-rupee">Monero vs. the Indian Rupee</h2>
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       <h3 class="font-bold leading-6 " id="what-s-going-on-with-the-indian-rupee-vs-dollar-usd-inr">What’s going on with the Indian Rupee vs. Dollar (USD/INR)?</h3>
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       <h3 class="font-bold leading-6 " id="chatgpt-picks-3-privacy-cryptocurrencies-to-hedge-surveillance">ChatGPT picks 3 privacy cryptocurrencies to hedge surveillance</h3>
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       <h3 class="font-bold leading-6 " id="forex-watch-dollar-vs-indian-rupee-usd-inr">Forex watch: Dollar vs. Indian rupee (USD/INR)</h3>
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 <p class="paragraph">In the meantime, Monero is trading at ₹16,000 against the Indian Rupee (INR) on <em>BitBNS,</em> by press time. Notably, XMR has registered 216% gains over the INR since April 2020’s price of ₹5,050 per coin.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="661" src="https://cdn.thebittimes.com/images/2023/11/16/ffde1064e0ffcffe940403746209d747.webp" alt="XMR/INR weekly price chart" class="wp-image-137787" srcset="https://cdn.thebittimes.com/images/2023/11/16/ffde1064e0ffcffe940403746209d747.webp 1024w, https://cdn.thebittimes.com/images/2023/11/16/ffde1064e0ffcffe940403746209d747.webp 300w, https://cdn.thebittimes.com/images/2023/11/16/ffde1064e0ffcffe940403746209d747.webp 768w, https://cdn.thebittimes.com/images/2023/11/16/ffde1064e0ffcffe940403746209d747.webp 1536w, https://cdn.thebittimes.com/images/2023/11/16/ffde1064e0ffcffe940403746209d747.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
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   XMR/INR weekly price chart. Source: <em>TradingView</em>
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 <p class="paragraph">As for the yearly results, Monero is up more than 35% against the INR in the last 365 days. Which is higher than its 20% 1-year performance against the U.S. Dollar (USD), from $132.23 to $159.64 per coin at the time of publication.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/16/3155e524d64a796812673b6337ba7981.webp" alt="XMR 1-year price chart." class="wp-image-137788" srcset="https://cdn.thebittimes.com/images/2023/11/16/3155e524d64a796812673b6337ba7981.webp 1024w, https://cdn.thebittimes.com/images/2023/11/16/3155e524d64a796812673b6337ba7981.webp 300w, https://cdn.thebittimes.com/images/2023/11/16/3155e524d64a796812673b6337ba7981.webp 768w, https://cdn.thebittimes.com/images/2023/11/16/3155e524d64a796812673b6337ba7981.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   XMR 1-year price chart. Source: Finbold
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 <p class="paragraph">This divergence is a reflection of the Indian Rupee’s poor performance against the USD. Essentially, INR has been losing its value in the forex market as the <a rel="noopener noreferrer nofollow" title="economic" href="https://thebittimes.com/tag/economic.html">economic</a> situation worsened in the country.</p>
 <p class="paragraph">Additionally, cryptocurrency adoption in India is among the biggest in the world, with growing concerns of the population related to their legal tender currency. People in India have also shown concerns about the central bank’s intentions to launch a final version of its CBDC. On that, Monero is one of ChatGPT’s top picks of cryptocurrencies to use as cash, as opposed to CBDCs.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/someone-is-crowdfunding-a-monero-ad-in-india-s-economic-newspaper-tbt70556.html">https://thebittimes.com/someone-is-crowdfunding-a-monero-ad-in-india-s-economic-newspaper-tbt70556.html</a></p>

Someone is crowdfunding a Monero ad in India’s economic newspaper

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