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Will Dollar touch 44 INR

The value of both Indian rupee and the US Dollar have been declining recently. However, the US dollar has appreciated around 10% compared to the Indian rupee in the last 3 months. I think the major reason for this rise is the pullout of funds by Foreign Institutional Investors who are taking their money out of India and investing it more favorable markets in asia.
Do you think it will touch the 44 mark again in the near future. Please give your comments .