It’s ironical that a just a day before the country celebrated its 72nd Independence Day, the rupee crossed the 70 mark against the greenback. On June 28, the rupee breached the 69 per dollar mark for the first time ever, and hit a new low at 70.40 on August 16. When the rupee was first devalued in 1966 and pegged to the American currency, it equaled 7.50 rupees. While the INR’s “once-upon-a-time story” has often gone viral on social media, the fact is that the rupee has been depreciating at a CAGR of 4.46% since it was first devalued.
Flat On Its Back
The rupee’s resilience has again been blown away by its oldest nemesis: rising crude and foreign outflows. The outlook for the next year is not pleasant either
Summer wine and salad
Kishore Singh - January 19, 2015
A double topping for growth
Meghna Maiti - January 15, 2015
Scriptures for success
Kripa Mahalingam - January 27, 2015
The million-dollar question: Is investing a game of luck or skill?
Shankar Sharma - May 04, 2021
Where's the party tonight?
Aditi Saxena - January 27, 2015