The rupee seems likely to be inexorably headed lower over the next few months.
Given the shape of the economy, the huge twin deficits and the chaotic political situation, it's likely that the rupee will end up quite a lot lower than its current level.
What's likely to be the impact on the stock markets and the overall economy?
Text: Devangshu Datta, Business Standard
Cartoon: Satish Acharya