Pressure on the Indian Rupee?

With Current Account deficit widening, there is likely pressure on the Indian Rupee. With recession like situation in Europe and Japan and oil prices receding fast, Indian merchandize exports are likely to be hit. There is also a fear that future invisible exports in the form of remittances from the migrants will be under pressure as their hosts reel under price fall strains. Nationalization of workforce in GCC which normally follows an oil recession will see some Indians return home. Unless there is an efficiency breakthrough,  Indian Rupee would be under pressure. Dollar continues to be strong.