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September 10, 2013
The Mega Rupee Slide
The Indian Rupee (INR) is one of the worst performing currencies in the world during 2013 (Table-1). At Rs.65.5/USD it slid by a whopping 19.8% in 2013 (so far) after sliding down by 4% during 2012. The month of August was especially devastating. Since 2000, the current rupee level is the highest ever seen (look at the graph). From a low of Rs.39/dollar in Feb 2008, the Rupee is close to Rs.65.5/dollar. Repeated efforts by RBI to stem the rot...