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Why India’s currency, the rupee, has plummeted to a record low against the dollar

Posted on 29 August 2013

If India’s currency were a baseball team it would be a cross between the basement-dwelling Houston Astros and the soon-to-be basement-dwelling New York Mets. Since January the rupee has plunged 20 percent, and in the last three months it’s dropped 13.1 percent, the biggest such decline in nearly 18 years. On Wednesday India’s currency posted its biggest one-day drop ever and now sits at a record low against the dollar.
Inflation is running around 10 percent, the worst of any large economy, and the government now has to pay buyers of its 10-year notes a whopping 8.96 percent interest………………………………………..Full Article: Source


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VRS - who has written 38189 posts on Opalesque Commodities Briefing.


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