India, Sept. 3 -- The Indian currency has breached a crucial mark. Now, the dollar is worth more than '88. The reasons are obvious. The high US tariff on Indian goods will dent exports, which will imply lower foreign exchange earnings. The impact may be higher if punitive duties of 200 per cent are imposed on Indian drugs. Lower forex inflows will mean higher current account deficit (difference between export earnings and import expenses), which will depress the country's foreign exchange reserves. These increase the pressures on the rupee. There are huge outflows from the Indian stock markets. In August, the foreign institutional investors withdrew billions of dollars from Indian equities. According to media reports, they took out '35,00...