August 22, 2013
India's Currency Is in Big Trouble
Krista Mahr, Time
The rupee is in trouble, and nobody seems quite sure what to do about it. The Indian currency closed at an all-time low of 64.11 against the U.S. dollar on Wednesday alongside a tumbling market, feeding widespread anxiety over the fact that the government has yet to curb the currency’s downward trajectory since it started tumbling in May. On Wednesday, Deutsche Bank issued a report saying the rupee may reach as low as...