Indian currency slide is sparking fears of a deeper selloff ...Qatar

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Indian currency slide is sparking fears of a deeper selloff
source : Gulf Times ( Qatar ) () 23
The rupee’s tumble to a succession of record lows is sparking fears of a deeper selloff and pitting the central bank against analysts and strategists who are predicting further losses. The currency has already dropped more than 6% this year, putting it on the threshold of 80 per dollar for the first time, as fears of a global recession and spiralling oil prices fuel outflows and deficits. The authorities are well aware of the potential risks, with the Reserve Bank of India (RBI) and the government announcing a raft of measures in the past week to support the currency. The current slump has brought back memories of the rupee’s frantic selloff in 2013, a time that also saw widening current-ac

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