Rupee: Stumble and fall

The rupee tumbling below the 60 per dollar mark should put an end to the government's tendency to repeat the cliche that the fundamentals of the Indian economy remain strong. Though the strengthening of the dollar, following the anticipation of the tapering off of the quantitative easing in the United States, has contributed to the recent bout of depreciation, the primary reason remains the growing imbalances in the external sector following the sharp deceleration in growth in recent years.

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