Brother, why you quote things in such a way so that people without knowledge get misguided. Indian rupee performance you showed is not devaluation but it shows variation. Actually Indian rupee is appreciating against dollar. The dip you see in the graph you posted is because it was temporary increase in Indian rupee value.
I didn't quote things in such a way that people will get misguided, I didn't try to manipulate data to misrepresent. I used Yahoo feature for past 1 year history of Pakistani rupee and Indian rupee versus US dollar.
Same happened in Pakistan during 2003/2004 when Pakistani rupee appreciated against dollar. Pakistan dollar exchange rate was around Rs 68 at the end of 2001 but then rupee started appreciating and rate came to around Rs 57 by end of 2003 (It was first time in Pakistan history that rupee was not adjusting but really appreciating against dollar over period of time). Throughout the period Pakistan government kept selling rupee and kept buying dollars so that Pakistan can accumulate dollar reserves plus stop rupee from appreciating a lot. Result was that the reserve that was around 3.2 billion dollars at the end of June 2001 became 12.3 billion dollars at the end of June 2004 ... increase of over 9 billion dollars. Later also, Pakistan kept buying dollars to keep the rate stable at around Rs 60 and increase dollar reserve. By Oct 2007, Pakistan reserve reached $16.5 billion.
Indian rupee appreciation was not "short lived", it lasted for about an year so this has to be related to Indian economy or the economy of the country(ies) that trade with India. I am sure you must have heard warning of world bank (?) of global inflation.