Rupee has sunk the Indian economy and the fallout has triggered panic across the board. Thanks to the falling rupee foreign investors are pulling out of Indian equity markets, India's crude import bill has shot up extensively and gold has surged to an all-time high. Is there an end to the bloodbath or is it just a precursor to a big catastrophe.
Rupee is sinking to new lows every single day. The Indian currency breached another all time low of 68.80 against the dollar biggest fall in 18 years.
Triggering widespread panic across the board. Stock markets witnessed massive fluctuations. Crude shot up to 112 dollars per barrel and Gold surged to an all-time high of 34,587 per 10 grams.
Foreign investors have sold 1 billion dollars worth indian shares in last 8 sessions although net purchases so far this year total upto 12 billion dollars.
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