Indian currency exchange rate - why going down.
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nope, The rupee will bounce back. Once UPA gets mullayam support. They will thorugh didi away and bring in needed reforms.( 100% FDI etc).
The President elections are important. All these things will happen after the elections. Already parnab dada have assure UP walas that thier 18 coop banks will be saved by RBI.
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infocan
Quote:
Originally posted by infocan
nope, The rupee will bounce back. Once UPA gets mullayam support. They will thorugh didi away and bring in needed reforms.( 100% FDI etc).
The President elections are important. All these things will happen after the elections. Already parnab dada have assure UP walas that thier 18 coop banks will be saved by RBI.
So basically you are saying Rupee is falling because of political problem ? ?
Look at the bigger, global perspectives..
Whats your point with 100% FDI, please elaborate.
At Fifty Sixsh today.. wouldn't need a year to touch Sikshty...
One or two step more, the FDI / NRI would start pulling the plug as they would never be able to get their capital....
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by ashedfc
On the other hand a weaker Rs is good for Indian exports to stay competitive in the global markets.
Except for may be service industry how this could be good for exporters either? Cost of raw material including crude and gas itself will eat up the possible profit. What will they export when they are starving due to sky high prices of food and petrol.
Location: God's own country
Posted on: 23-05-12 08:31:39
India imports more than it exports any day.
Crude is 30% of all the foreign exchange of imports.
Silver lining is that the prices of fuel is going to increase this week and hence it will strengthen the rupee.
The Govt. may stabilize the rupee at 55 for now.
But people have to understand that India is growing like crazy and we are looking at USA, China, Gulf, Korea etc.. for all our stuff. For example, our company is buying furniture from Indonesia and paying in USD. We finalised the prices at Rs. 46 to a dollar and today we pay Rs 56 to a dollar to take delivery.
We will change our habits. Already we are buying local carpets instead of Persian carpets. Like this when people react to restrict using foreign materials, the rupee may stabilize.
As of now, no ordinary Indian is afraid. May be growth may be curtailed but then we will learn to live with the decreased growth.
Out of our team of 16 people, 8 people have resigned in the past 1 month. Some with no job offers. India is an optimistic growth story but please, Canadians, stay in Canada. Canada is always a better place than India.
Peace
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I am a Gents and not a Ladies.
Quote:
Originally posted by tamilkuravan
Canadians, stay in Canada. Canada is always a better place than India.
Peace
No doubt about it (no sarcasm intended).
policy paralsis is the main reason why rupee dropping like a knife. Once govt annouce retail, avaiation , insurance & other sectors as open with 100% FDI , things will change. That decesion is a political decesion . UPA know it can only happen after kicking mamta didi out and bringing in pahalwan mulayam singh yadav.
Such a drastic drop in rupee value is bad for the country as it becomes more difficult to lift up.
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infocan
