India’s currency, the rupee, has fallen to a record low of 7.5 per cent on Thursday as the government is scrambling to stem the tide of inflation, which hit a six-month high in June.
With the currency at a record-low, some analysts are predicting a sudden sharp rise in the price of imported goods and other goods.
The rupee rose 0.3 per cent to 62.38 per cent in New Delhi on Thursday.
The Indian rupee has depreciated by more than 80 per cent since the global financial crisis.
The government has been trying to stabilise the economy with a variety of measures, including curbs on import tariffs, a new currency note, and a new Rs1,000 note.
The Reserve Bank of India has said it will print Rs1 lakh notes to help stabilise prices.