RUPEE MAY SLIDE TO 68 PER DOLLAR
Due to the shutdown in USA market, Rupee somehow manages to improve but once again it seems as if Rupee will fall down to 68/dollar. The Indian Rupee could fall sharply if US lawmakers do not reach a deal to increase the debt ceiling in time, a report from Bank Of America.
If the debt limit is not increased there is a full chance of recession in US market as it is already been shutdown from past week. Recession could be worse than that of 2008 and as a result US would either want his foreign investments back or increase its interest rates and a major part of it is invested in India which would result in the huge fall down in the Rupee status by 18 October.
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