Editor's Note

Inside job, Indian style

Abysmal policy inaction by UPA-IIhas pushed the Reserve Bank, not to mention the country, into a very precarious position

The precipitous fall in the rupee in recent months has shocked most people. Not us. You may recall reading the following on this very page — in our issue dated June 26, 2010 — when we presented a cover story on how to cope with a volatile rupee. “Seeing the yo-yoing in the past two years, it is amply clear that the rupee is far from charting it own destiny. It is still driven by the dollar (and the dollar is now being driven by the euro). ...As things stand now, sustained low interest rates in the US — and now the Eurozone, too — makes a


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