Rupee Fall: The Bad and Not So Bad - India Real Time - WSJ:
"The rupee reached a new low of 64.04 against the U.S. dollar Tuesday breaching its previous record low of 63.22 set Monday.
It has lost nearly 16% against the greenback since the start of May. The sharp fall has impacted the stock markets: The Bombay Stock Exchange’s Sensitive Index was trading 1.8% down on Tuesday, after having fallen more than 6% over the previous two sessions.
The government and the Reserve Bank of India have intervened on an almost weekly basis to try to arrest the currency’s decline, but the measures have not had the desired effect. Click here to track how the interventions have impacted the value of the rupee in recent weeks"
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