Reserve bank Governor Mr.D.Subba Rao said,it is difficult to estimate when the situation will improve. Ofcourse,the weakening of rupee is also due to some global factors,but Indian factors outweigh more than global factors.
If we trace the value of rupee vis-a-vis US dollar,from 1947 till date, the rupee has steadily declined. The value of rupee(INR) vis-a-vis US dollar(USD) is as follows:
on 15th August 1947,1 USD = 1 INR.
In 1966 1USD = 7 INR.
In 1970 1 USD = 7.47 INR.
In 1975 1 USD = 8.41 INR.
In 1985 1 USD = 12.36 INR
In 1990 1 USD = 17.50 INR.
In late 90's 1 USD = 24.58 INR.
Now,1 USD is equivalent to Rs.60.00 and it crossed Rs.61 last week. Let us wait for
the day when 1 USD will be equivalent to 1 INR .Will the wait be an eternal wait ?.