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Friday, August 23, 2013

Warning bell ignored by India, leads to weakening of Rupee

Viewing the India's current economic strata, its more likely that it will take much time for rupee to recover. Its main cause was and is ignored by its Govt. India's is on the second highest level after United States of America which is having high external deficit.
The Indian rupee touched record low of 65.52/dollar on Thursday and is down 16 percent so far this year despite efforts by policymakers to prop it up.
With rupee crisis, high inflation, budget deficit, foreign debt economist have started comparing it with the scenario of 1991 economic crisis.

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