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India Fumbles for Solutions to Stop Rupee's Tumble

Last update: 08/10/2018
By Shakir Husain

Bernama's correspondent in New Delhi,Shakir Husain, shares his take on the happenings in India.


NEW DELHI (Bernama) -- India's tumbling rupee is forcing decision makers to come up with urgent solutions to stabilise the currency.

A few measures have been taken in recent days to support the rupee but it has fallen further against the US dollar.

"Dollar outflows, trade wars and high global crude oil prices have hit India despite strong fundamentals," Finance Minister Arun Jaitley said recently.

And these factors continue to weigh on the rupee's performance.

The US-China trade war is on, New Delhi has its own difficult trade issues with Washington to sort out as President Donald Trump has called India a "tariff king", and climbing oil prices are increasing the Indian import bill.....


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