Economic

India in uproar over rupee’s fall

“Almost every day now, Indians are waking up to alarming headlines about their currency hitting ‘a historic low’ or a ‘lifetime low.’ Last week, on what was dubbed ‘Black Friday, the currency sank to another record level, and Indian media carried pictures of workers in Mumbai’s financial district clutching their heads in dismay. With the country’s stock market continuing to tumble, the rupee fell further on Tuesday. It’s down about 15 per cent against the U.S. dollar since May — from over 53 rupees to the dollar to over 63 on Tuesday.”

Source: India in uproar over rupee’s fall – The Washington Post

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