10 reasons why Rupee bit the dust at 68

Niticentral Staff | Aug 28, 2013 

10 reasons why Rupee bit the dust at 68The Rupee is again on a freefall and hit a record low of 68.75 against the Dollar on Wednesday despite RBI’s and Finance Minister P Chidambaram’s stringent attempts to diminish fears that the Food Security Bill may widen the fiscal deficit this year.

Last week, the Rupee jumped back after hitting low at 65, sending positive signals to the markets, however, it returned to the bearish territory on Thursday.

India, however, is not the only country whose currency is weakening. Other emerging economies which are reeling under economic crisis include Indonesia, Brazil, Thailand, Malaysia, Russia, Turkey and South Africa because of fears that US may end its quantitative easing by year-end.


[story-topic id='99' width='670' height='250']


(With inputs from agencies)


#Factsheet

#factsheet on Indian economic crisis

#failing economic

#falling Rupee

#News

#News Analyses

#timeline

#UPA government

#weak Indian economy

ABOUT AUTHOR

Niticentral Staff

Niticentral Staff  is a Guest Contributor at Niti Central.