....The domestic currency has lost alarmingly since Monday—Rs 5.64—and Rs 9.41 in the last one month not many market analysts were willing to bet on any quick recovery any time soon, without a decisive intervention of the government. “If steps are not taken to implement the reforms necessary to tackle the structural issues, the government will be left with the so-called '4D options': debt default, devaluation, deflation,” said Angelo Corbetta, head of Asia equity for Pioneer Investments in London, raising further alarm. Currency analysts now aver that an assault on the much talked about 70-level is only a matter of time..............
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