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Not so subtle signs of the American Dollar strengthening and the Indian economy weakening.

The Rupee shed 49 paise to a dollar on Tuesday, leading to its 18-month, jumping over the Rs 44 fence for the first time since March 2007.

As of Wednesday morning, the Rupee stands 44.07 per Dollar. It is expected that the Rupee would hit Rs 45 per dollar before climbing again.

"The dollar will keep strengthening," said chartered financial analyst and portfolio strategist Mohan Krishnan, "till crude oil prices come down to at least $100-$105 per barrel."

"Once the $6 billion or so FII (foreign institutional investors) funds that have gone out of the system this year begins to return, the rupee will be able to neutralize the strengthening of the dollar overseas."

The highest the Rupee has ever gone against the dollar was back in November 7, 2007 when it stood at Rs 39.27. Rising inflation due to searing oil prices is the principal factor for the Rupee's fall. Its very simple maths - India imports 70 per cent of its oil... and oil purchases are in dollars... so importers now have to pay more rupees for the same amount of dollar.