Indian Rupee Still Bogged Down – Causes, Impact and Possible Remedies

Moving from bad to worse the rupee has touched the historic all time low rate of '68.80 against USD in August 2013 and still stuck around '60. At the time of independence when India had no borrowing rupee was at par with the dollar but now rupee is presently under volatile trend, caused by various internal and external factors adversely affecting almost each and every player in the economy. Depreciation of rupee is a matter of great concern for all. It may be an opportunity for someone and a challenge for other. Depending upon which side of the fence you are sitting, you may either be laughing with extraordinary gains which you may be making due to currency depreciation or weeping the hell out due to excessive losses owing to it. There may be other category of people who would not be on either side of the fence but sitting on the fence and are not aware of the impact of currency depreciation on their day-to-day life and hence are not concerned with the currency movements. Indian economists are trying hard to chalk out a strategy to counterbalance the falling value of rupee but it seems the attempts are futile. It is not only that rupee has lost its value in the global context but also dollar has improved its performance in the global trading markets.