Since August 2011, one of the biggest concerns for the Indian economy has been
the rapid decline in the value of the rupee. Moreover, there seems to be no end
to this fall. With the rupee now touching an exchange rate of about Rs 54.8 per
US dollar, the Indian currency continues to set newer records, albeit, on the
lower side. In fact, this is not an anomaly but a long term trend. If you look
at the rupee-dollar exchange rates over the past two decades, the rupee has
continuously lost value against the dollar. In 1992, you could buy a dollar for
just Rs 28.95. The same dollar would now cost you close to Rs 54.8. That
means the rupee's value against the dollar has dropped by a strong 47% in the
last 20 years.
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Source: Rediff.com |
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