The rupee rose to a fresh record high against the dollar on Monday, as a weak global economy helped fuel the rupee’s surge in recent weeks.

The dollar fell sharply to around 70.2 cents US, while the rupees gains were more modest, coming in at about 66 cents US.

The rupees currency strength index rose to 69.7 percent.

“The rupee has been on a steep rise lately,” said Suresh Chandra, senior currency strategist at UBS.

“That is probably a big reason why there has been such a strong rally.”

The rise in the rupe’s value has fueled the market’s bullishness and helped push India’s economy to the forefront of global concerns.

But while India is the biggest economy in the world, its economic growth has been slower than the United States, which has posted its strongest quarterly growth in years.

“This could be a positive or a negative for India,” Chandra said.

“It could be good for the U.S. or bad for the Indian economy.”

Analysts have long been skeptical of India’s long-term growth prospects.

“I think they are in for some turbulence,” said Andrew Zalman, head of emerging markets research at RBC Capital Markets.

“India is a fairly large country and if you are not very good at the fundamentals, you don’t get much traction in a big market.”

India’s central bank has been trying to get more confidence in its economy and to help it grow more rapidly.

But the rupes growth has had to be balanced by other risks, including a weaker dollar and worries about the global financial system.

India has also been wrestling with the fallout from the March 21 earthquake that killed nearly 7,000 people in India’s north-eastern state of Assam, which triggered a devastating tsunami that devastated many regions.

That was the worst disaster in the country’s history.

A surge in the value of the Indian rupee, which is pegged to the dollar at $1.19, is a factor.

In a report on Monday that foreshadowed the countrys economic outlook, the World Bank noted that the ructions rise in value “could lead to a sharp depreciation of the ruachis exchange rate, as reflected in lower interest rates in the U, Europe and Asia.”

“As the Indian dollar has weakened relative to the euro, this may lead to increased appreciation in the Indian rupis foreign exchange rate,” the report said.

The IMF warned that “in the medium-term, the current depreciation of Indian rupees exchange rate could have implications for the international financial system, the domestic economy, and financial markets.”

India also has been struggling with a slowing economy and a slowdown in the global growth.

The countrys growth slowed in 2016 and 2017, when growth in the rest of the world slowed, but has rebounded since then.

But some economists have warned that India’s current economic woes may not be temporary, as its economy is expected to grow more slowly in the future.

The Reserve Bank of India on Tuesday forecast that the country would grow 6.2 percent this year, the fastest growth in eight years.

That’s slower than forecasts for 6.7 to 6.9 percent in 2016.

India’s government has been spending heavily on infrastructure and has also increased public spending, but the country is still mired in a severe fiscal deficit.