Business/Economy
Rupee breaches 55 barrier against dollar - Times of India
Continuing its downward drift, the rupee crossed a new all-time closing low of 55 against the dollar, settling at 55.04. The trend persisted in the absence of any major flows despite intervention by the Reserve Bank of India. Dealers said that given the current inclination, the currency could slide to 56 to 57 levels. However, any depreciation beyond this level could trigger panic and lead to a currency crisis, which would force the central bank to come out with concerted efforts to support the rupee. 

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Verbatim

When television news anchor Rahul Kanwal got through to Srinivasan and asked him about Meiyappan’s arrest, the BCCI president reacted with thuggish belligerence: 'Shut up, just shut up. I will fix the whole lot of you.' It’s amusing, of course, that “fixing” appears to be uppermost on Srinivasan’s mind even at this stage.This IPL series has shown up the carnival to be a can of worms and India’s cricket administration to be rotten at its core. As a first step towards fixing it over the long haul, Srinivasan and his political patron and IPL chairman Rajiv Shukla should be made to resign, and the Chennai Super Kings team disqualified.
Venky Vembu
 

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