At the time of writing this, the rupee is trading at 68.75 per US dollar. Frightfully close to the prediction of breaching the 70 per dollar mark. Fiscal concerns over the Food Security Bill and the Syria issue have brought the currency lower by 10% in the last 10 days. The sword of sovereign downgrade, to junk status, hangs mercilessly over India's economic fortune. Meanwhile, the government is least interested in paying any heed to the warnings of the RBI. The only solace is the fact that several other emerging market currencies have also lost significant value in 2013, albeit much lesser than the rupee.
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