NEW YORK ( TheStreet) -- The Indian rupee is one of the world's worst-performing currencies this year, falling to record lows against the U.S. dollar and prompting drastic policy changes from the Reserve Bank of India (RBI).Most of this currency weakness is being propelled by the country's growing current account deficit, but there are reasons to believe recent efforts to reduce imports and boost capital inflows will have little impact. The rupee is already showing losses of nearly 30% when we look at price activity over the last two years, and it is quickly becoming clear that India could be facing one of its world financial crises in decades.
Rupee Set for Prolonged Weakness
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.