The volatile journey of Indian rupee
A major component of the crisis is "corruption". everywhere. It is master-minded by the politicians, both ruling and in opposition.
We pay more for our overseas purchases and receive less for our exports. The excess payment for the purchases is pocketed by the politicians and bureaucrats who enable this. Similarly, those who export are under-invoicing and pocketing the price differential. All these gains are secreted abroad in shady bank accounts.
Any country which buys "dear" and sells "CHEAP" IS BOUND TO BECOME BANKRUPT SOONER OR LATER, SOONER THAN LATER.
THIS IS WHAT IS HAPPENING IN INDIA NOW.