The Unstoppable Decline of the Rupee
The Indian currency is plummeting to a new lifetime low almost every day. In the forex market on Tuesday, the rupee depreciated by 50 paise against the dollar, recording an all-time record low closing value of Rs 96.70. This marks the eighth consecutive day of losses for the rupee. Over the past eight trading sessions, the value of our currency has declined by 248 paise (2.64 percent). During Monday's trading session as well, the dollar-rupee exchange rate closed at Rs 96.20—the previous record low—registering a loss of 39 paise.
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