Falling Rupee could hurt India, but long-term damage unlikely
The depreciating Indian currency could force the Reserve Bank of India (RBI) to hike rates and some foreign investors to pull out. This may cause some turmoil over the short to medium term but the longer term outlook is not all bad. The Indian Rupee continues to fall. By mid-September it was hovering around the 72.97 mark to the US Dollar and could well breach the 73 per USD mark and depreciate further in the days ahead. In India, which [...]