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Indian currency slides to all-time low

Posted on 14 June 2013

As the Indian currency slides to an all-time low against the dollar, the Indian Finance Minister is trying to bolster confidence in the country’s flagging economy. The rupee’s slide this week came on the heels of steady losses over the last month. Overall the Indian currency has slipped by 8 percent since the start of May.
India’s Finance Minister P. Chidambaram Thursday tried to calm fears that the falling currency will put further strain on the flagging economy. He said India’s huge trade imbalance has triggered the slide. The current account deficit as it is called, is driven by the country’s massive oil and gold imports………………………………………..Full Article: Source


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