India currency plumbs new depths, pulling stocks down

08/18/2013 | Forbes

India's rupee extended its plunge Friday and took Indian shares with it amid a combination of worries over the currency's recent unchecked slide and the perceived growing likelihood of tapering by the U.S. Federal Reserve. Even the central bank's new move to restrict capital outflows failed to stem the rupee's descent to more than 62 to the U.S. dollar and what was described in the Indian press as a stock market "bloodbath."

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