hitting dizzying lows, before getting back on its feet

[user_gary]

The global financial meltdown has sent stock indices into a tailspin with the rupee hitting dizzying lows in India. The rupee plummeted to Rs 46.93 to the US dollar on Tuesday before getting back on its feet and even strengthening on Friday, thanks to the Reserve Bank of India's (RBI) intervention.


Please explain the emboldened parts to me.

[Anglika]

rupee hitting dizzying lows - the value of the rupee against other currencies dropped to an amazingly low level.

before getting back on its feet - a metaphorical statement meaning "recovered".

[BobK]

rupee hitting dizzying lows - the value of the rupee against other currencies dropped to an amazingly low level.[B]...

Incidentally, while I have no doubt that Anglika's definition is what the writer had in mind, I've never heard of a 'dizzying low' (and nor has the BNC). I imagine the writer (or some previous writer) coined it by analogy with 'dizzying heights' (places that are so high that they make you feel dizzy definition |Dictionary.com).

b

[user_gary]

Thank you.

The rupee plummeted to Rs 46.93 to the US dollar on Tuesday before getting back on its feet and even strengthening on Friday, thanks to the Reserve Bank of India's (RBI) intervention.

Actually before the economic crisis, 1 US dollar = 40 Rs. but now after the crisis, the rupees value has actually increased to Rs. 46.93, but still the text says it's value dropped. Can you tell me how it's possible? and I'm also confused why the text says thanks to the RBI.

Could you help me with this?

[jlinger]

"thanks to ... " is often a [sarcastic] way of passing blame, rather than appreciation, which is the case here. The writer is saying that the situation is the fault of the intervention by the RBI.

[Barb_D]

No, it's not sarcastic!

If you have to spend 50 rupees to buy one dollar today, but you only have to spend 40 rupees to buy a dollar tomorrow, the rupee got STRONGER!

[jlinger]

Of course, Barb! I should have read the example with understanding of intent in mind, rather than just looking at words.

"Thanks!" (and it's not sarcastic)

[Barb_D]

And this was about the limits of my knowledge of financial markets so I hope all the questions were answered!