A few news reports in the last week collected here.
Times of India on 16 August: BSE Sensex falls 769 points, steepest in 4 years, as rupee breaches 62 against dollar
“Rupee will weaken as long as growth prospects remain weak. Higher interest rates and tight liquidity conditions imposed by RBI have put growth at risk and there is the possibility of further weakness while these measures are in place. The forward markets are pricing in over 8% depreciation in the coming year, compared to a 5% depreciation expected in May. In the medium term, it is growth rather than interest rates that drives the rupee,” said R Sivakumar, head fixed income, at Axis Mutual Fund.
Reuters on 16 August: Bonds slump to 21-month lows on fears of more RBI steps
“It is the fear of more RBI measures, not an outright repo rate hike per se. That the liberalisation of the capital account is no longer sacrosanct has also shaken investor faith,” said R. Sivakumar, head of fixed income at Axis Mutual Fund.
The Reuters story also got picked up by a couple of other sites.