All Time Lowest: Indian Rupee Hits 96.60!

The valuation of the Indian rupee against the United States dollar has been dropping on a consistent basis and it looks like the bloodbath is not going to stop anytime soon either.

For the first time in history, the evaluation of the Indian rupee against the United States dollar has gone below the 96.50 mark. Today, the valuation of the Indian rupee hit a shocking 96.61 against the United States dollar.

Driven by intense global conflict and massive foreign capital outflows, the currency collapsed through consecutive markings from 90 to 96 with unprecedented, relentless velocity. There has been no sign of consistent recovery despite the efforts from the RBI.

To put that into perspective, Indian Rupee has hit an all-time low of 0.01034 against the USD. This would essentially mean that anyone can become a millionaire in India if they own just $11,000.

At this rate, it should not be too long before the Indian rupee touches the 100 mark against the United States dollar and that would be a catastrophe in itself of the highest order.