The Indian rupee's slide towards the psychologically crucial Rs 100 per dollar mark is no longer being viewed as an extreme possibility by market participants. For many investors, the debate has shifted from whether the rupee can touch that level to what such a move would mean for the economy, corporate earnings and stock portfolios.
The rupee fell to a record low of 95.74 against the US dollar on Wednesday, extending a prolonged weakening trend that has accelerated amid surging crude oil prices, foreign investor outflows and growing stress on India’s external balances.
