The Falling Rupee: A Crisis in Slow Motion

Introduction : From 3 rupees to nearly 96 rupees per US dollar , India's currency has lost 97% of its value since independence. What explains this relentless fall and what does it mean for the world’s most populous country? When India was newly independent, 1 US dollar was purchased for about three rupees . Now, that number is close to 96 rupees per dollar, nearly 30 times more. As noted by DOT News, this isn’t just a sudden crash; it’s a long-term decline that’s been accumulating over...