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Rupee decreased to below the Rs 66 level against the dollar for the first time in nearly two years in opening trade today.

Since the panic got triggered from China over its slowdown worries and its impact on the world markets, the worst of the brunt was suffered in the Chinese markets, spreading to Hong Kong, Taiwan, Japan, Australia and later in the day to Europe.

Mumbai/Nagpur: The stock market seems to be moving in just one direction, as the Sensex’s south-bound journey on the back of relentless selling pressure shaved 800 points off the index in last two days.

Discussions of economic issues in policy circles often suffer from a “which way is up?” dilemma; it’s not clear what the problem is that needs to be solved.