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Epic decline of Indian Rupee

01 Sep

Citizens of India have been watching, in stunned amazement, as over the past month the local currency has lost an unprecedented 15% of its value, with a record plunge taking place just on August 28, 2013.

The Indian people have lost 30% of their global purchasing power since March 2013 (though those who swapped their paper wealth to gold have seen their purchasing power rise 6% in Rupee terms).
Screen Shot 2013-08-28 at 1.56.12 PM

Over the last two years, One USD has gone from around 44 INR per dollar to 68 INR per dollar recently.

Screen Shot 2013-08-28 at 2.02.29 PM

here is a detailed picture of last 30 days of free fall of indian rupee.

More detailed analysis of epic Indian Rupee Crash

http://www.zerohedge.com/news/2013-08-28/things-make-you-go-hmm-many-clear-signs-indias-currency-was-set-epic-crash

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Posted by on September 1, 2013 in banks, economy, forex, investing

 

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