Independence Day: How the rupee went from less than 4 a dollar in 1947 to 83 today

The Indian rupee opened on Monday below the 83-mark against the US dollar, the lowest for the currency since October 2022 when it dipped to a historical low of 83.26. The depreciation can be attributed to a positive dollar and a weak tone in domestic markets. India has transformed from a food-deficit country importing grains to becoming an influential player in the global financial landscape, with the rupee becoming one of the top 15 most-traded currencies globally.