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India droopee rename

India droopee rename

Should they rename it the Droopee? India's currency hit a new all-time low on Wednesday, dropping to 54.52 rupees against the U.S. dollar. Despite the rupee's plunge of more than 20 percent over the past 12 months, analysts said India's currency won't go into freefall, as the central bank is committed to propping it up. But finance minister Pranab Mukherjee's halfhearted pledge to institute some austerity measures on Wednesday failed to spur much enthusiasm.