Indian Rupee May Go On Creating New Records In Coming Days
By Neelima Shankar
Aug 29, 2013
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It has become the habit of the Indian Rupee to create a new dubious record, on a daily basis. In today’s trade, the INR touched a low record of 68.70 and however, recovered to 68, thanks to the dollar buying PSUs. The INR could not stay at the level and in the late afternoon, it came down and ended the day at 68.80. The action taken by the Reserve Bank of India and the Government of India, is helpful only in reducing the speed of the depreciated value of the INR and not for reversing the course of the Indian currency. Lack of the affirmative action is the reason for the continuous slide of the Indian Rupee, according to the Singaporean Bank DBS. Though the entire Asian currencies are experiencing the bad patch, the most affected currency is the INR. Recently introduced Food Security Bill is pouring oil on the fire, at this moment.

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