The Indian rupee, which was at par with the American currency at the time of independence in 1947, hit a record low of 66.64 against the dollar today. This means the Indian currency has depreciated by almost 62 times against the greenback in the past 66 years. The currency has witnessed a large volatility in the past two years. This volatility became acute in the past three months affecting major macro-economic data, including growth, inflation, trade and investment