Mahanth S. Joishy, Editor-in-Chief
The Indian rupee has continued falling steadily against the US dollar this May, breaking new record lows continuously through recent weeks. The free fall continues, and as of today the magic number stands above 56. This news is unwelcome to Indians in an environment that includes severe hikes in Indian fuel prices, and dramatic drops in Indian stock market indices.
Some of the causes and consequences may seem obvious, while others appear murky in the crystal ball. Below is a pithy analysis. Read the rest of this entry