The rupee today fell to an all-time dollar low, as the currency looks increasingly vulnerable to a swelling current account deficit and fears over the global volatility. The rupee skid nearly 17% from a 2011 high, reached in late July as risk-averse investors flee emerging markets.
Adding to the difficulties for a central bank that is already fighting with high inflation, a widening trade gap and slowing economic growth, the falling rupee has added to the never ending woes in the market. Much to the expectation of a sense of urgency, as the Reserve Bank mediated into the free fall today, governor, D Subbarao said that the policy continues to remain the sameDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
