WSJ; Overheard On The Street: May Can Be The Cruelest Month In India

Unless you trade the rupee for gold.

Temperatures can hit 122 degrees Fahrenheit, and a hot wind causes mass heatstroke across the northern plains during the month. But May also typically has the most number of suspicious days for Indian weddings, says ANZ Bank.

And no Indian wedding is complete without gold. So it's little wonder gold imports, in what is already the world's largest consumer of gold, peak around May. That drags down the currency. Since 1996, the rupee has depreciated an average of 14% against the dollar in May. This year could be particularly profitable for this trend.

Astrologers announced 13 auspicious days to wed this May, 10 more than last year. The rupee has fallen only 0.8% against the greenback this month.

There's upside left, if you're betting against the rupee from an air-conditioned office. Indian brides or grooms decked out in gold at an outdoor ceremony, on the other hand, may not be so happy.