Closely linked to the happenings and events around UPA Government the rupee dropped to a record low of 62.03 per dollar on Friday. Analysts  say that  the fall in popularity of congress and Sonia Gandhi brigade and the   upstage of  Narender Modi  and BJP has resulted in  outflow or flight  of American capital  from country leading  to the devaulation of Rupee  in such a massive scale .

 The Reserve Bank of India late on Wednesday unveiled rules to restrict how much its citizens and companies can invest abroad and announced additional curbs on gold imports. But  none of the measures have reinfused political and financial confidence in the country's currency  which is on a down slide  from  June onwards  to decades  highest  of  62  per  dollar.

Financial markets were closed on Thursday for a national holiday. On the week, the rupee fell 1 percent.The war with Pakistan, the UPA governments failure to win over opposition on the massive food bill and regional crisis have all impacted on  rupees  devaluation and put a brake on country’s development mode  ahead of the crucial  2014 elections .

 Analysts say  that unless  BJP  of Congress anounced a sound economic policy ahead of 2014- elections the rupee fall would continue  as american capital  would  swing only on a favourable  environment  for investment in  India .Rupee fall will impact on imports,  students on higher studies  etc.

మరింత సమాచారం తెలుసుకోండి:

Narender Modi Rupee Dollar Markets American Capital Massive flight

Seetha Sailaja

17/08/2013 08:30 AM