Indian rupee hits all-time low

The Indian rupee tumbled to all-time low today 63.30 against the dollar, as recent measures failed to stem the fall.

The Indian rupee closed at a life-time low of 63.13 despite the Reserve Bank of India’s recent measures to restrict capital outflows.

RBI’s recent measures

India’s central bank, Reserve Bank of India, took s series of measures to stem the fall of the Indian rupee.

Last week, the RBI announced stern measures curbing Indian firms investing abroad and on onward remittances by resident Indians. However, to pacify the rattled investors, on Friday the government...