Rupee continues to lose value against the Dollar. The decline is said to continue into the new year, 2012.
http://timesofindia.indiatimes.com/business/india-business/Rupee-ends-at-all-time-closing-low-of-52-35/articleshow/10844606.cms
Rupee decline in History:
20 years ago Rupee lost 20% of its value in the 90s. However, todays decline is the biggest ever loss for Indian Rupee in recent years. The drop in rupee value is severe this time since Dollar is also losing value, compared to the early 90s, when the Rupee lost value against an appreciating Dollar. This makes it very concerning for India, eventhough Pranab Mukherjee has enunciated his faith in the resiliency of India, and its capacity to bounce back. It may take at least a decade of hard work for such a miracle to happen under the present circumstances. In terms of economy the future looks bleak unless the RBI steps forward and takes some drastic measures, such as tightening debt rules and increasing the interest rates. Otherwise, this trend may continue and Rupee will cross Rs. 75 mark before next summer.
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