Indian Rupee touched low of 61.2 against US Dollar during July 2013. As India is largely dependent on imports for its energy needs such as crude oil; any depreciation of currency against other major global currencies such as US Dollar puts additional burden on Indian economy.
Historically, Indian Rupee was priced at 1 US Dollar in 1947 when India got independence. However, by 1975 it fell to 10.75 and further went down to 17.5 by 1990. Post globalization era, value currency was driven global market forces. This resulted in steady fall of Indian Rupee till 2006 when it touched 48.3 against USD.
The recession in the US during 2007 helped INR to climbed back to 38.5 levels. However, it could not hold on to its gain and crashed to 55.3 levels by 2011 and further it went past psychological 60 mark to touch 61.2 in July 2013.
The recession in the US during 2007 helped INR to climbed back to 38.5 levels. However, it could not hold on to its gain and crashed to 55.3 levels by 2011 and further it went past psychological 60 mark to touch 61.2 in July 2013.
The chart shows historical exchange rate of INR/USD since 1947:
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