Rupee slips to historic low of 68.85/$, the biggest fall ever. With mounting CAD(4.8% of GDP) India need to take some concrete step to attract FII who are less optimistic resulting in large capital outflow leaving a more weak rupee against dollar as they are a sturdy source of foreign capital inflow. Though a slew of monetary and fiscal measures like liquidity tightening, curb on gold import, cut on oil import bill and enhancing the FDI cap are being taken only time will say whether Indian economy will bounce back and arrest the falling rupee or lead us to the pre reform era.
Posted on: Wed, 28 Aug 2013 17:14:39 +0000
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