Falling rupee stares at uncharted waters

Global risk aversion and India’s widening current account deficit have dragged the rupee close to all-time low levels against the dollar. Any fresh trigger from the troubled euro zone may push the Indian currency to the level of 52 against the dollar, say forex traders and economists. The rupee on Wednesday fell by seven paise to close at 50.73 against the dollar, inching closer to the all-time low of 51.97 seen in March 2009. The Indian currency has lost around 15 per cent against the dollar in the past three months.

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