Rupee slumps to all-time low of 58.16

[kawaraj]

Rupee slumps to all-time low of 58.16; all eyes on RBI, govt - Hindustan Times

The rupee*on Monday*sank by a staggering110 paise to life-time low of 58.16 against dollar, making the struggling economy further vulnerable as imports become costlier, inflation risks rise and record high CAD worsens.

Experts are already forecasting the battered rupee to sink further to near 60-levels. "Unless, RBI takes some kind of steps to stabilize the currency, the rupee may touch 58.50-58.90 level against dollar," said Hemal Doshi, chief currency strategist, Geojit Comtrade.

 

[OrionHunter]

Good! We're in competition with Pakistan! But we've still a long way to go!!

 

[Parul]

Rupee slumps to all-time low of 58.16; all eyes on RBI, govt - Hindustan Times

 

[arp2041]

INDIA DESERVES UPA-III

PLEASE VOTE FOR SHRI RAHUL GANDHI JI

 

[kawaraj]

Can i name this cartoon," oh d ear"

 

[Skull and Bones]

It's 58.25, get your facts right you ignorant fellow.

 

[Rhino]

Rupee slum= Gain for IT firms

 

[soumya1989]

This is bad really bad

 

[Bobby]

Good for me

 

[OrionHunter]

This is bad really bad

I love it, especially when one's being paid one's salary in dollars abroad!!!

I love UPA!

 

[confound thinker]

oh now when will this stop ........
surely can't get any worse i guess

 

[EagleEyes]

Good! We're in competition with Pakistan! But we've still a long way to go!!

What does this thread have to do with Pakistan? Stop trolling.

 

[Agnostic_Indian]

how can it be all time low ! I think rupee has been around $1=55 in the past ?????

 

[Ayush]

 

[S-DUCT]

This is largely due to high oil & gas imports.