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Didn't you read @Aeronaut 's post in the sticky thread?
This thread has been stuck- DON'T Post new threads on Indian economy slowing down - or Infractions will follow.....All news are to be posted HERE ONLY!
No. What did it say?
Here you go.
I'm extremely happy seeing the Rupee and the Indian economic story collapse. Nobody deserved it more than India. They boast way too much and now it's come back to bite them on the backside.
Indians are extremely arrogant and obnoxious people, this economic collapse will definitely shut some of these jingoistic Indians up.
Just give it up India. It's all over for you.
Honestly, the Indian government might as well save their limited Forex reserves instead of trying to save the currency.
Even countries like Switzerland and Japan failed in their currency interventions. After all the money they spent, their currencies just went back to pre-intervention levels.
No half-measures are going to work in this kind of currency intervention.
If you're not willing to go full-measures, then you might as well just save your Forex from being wasted.
US Dollar / Indian Rupee FX Spot Rate - INR= - Stock Quotes
Oh, it just crashed through 64, now trading at 64.02.
The Congress government is just taking stop gap measures till the elections(early next year). They know their chance of comeback is very slim and will leave the BJP with a sick economy.
These assholes will do anything to be in power, the hell with the economy and the country.
Honestly, the Indian government might as well save their limited Forex reserves instead of trying to save the currency.
Even countries like Switzerland and Japan failed in their currency interventions. After all the money they spent, their currencies just went back to pre-intervention levels.
No half-measures are going to work in this kind of currency intervention.
If you're not willing to go full-measures, then you might as well just save your Forex from being wasted.
I don't think they are even contemplating currency interventions using their forex reserves, which are very meager and far short of what is required to defend the currency.
India has at least $170 billion of sovereign debt maturing in the next year. Assuming the worst case scenario whereby creditors refuse to roll over, then India would be left with almost nothing.
Instead, I think their strategy, if there is one, is to use the reserves to buy more time so they can raise more funds, either via sovereign bond sales or issuing 'Desi Bonds' to attract NRI savings.
Regardless, they'd better move fast.
However, I'd be far more worried about India's corporate debt market. During Rupee's heady days, when it was 45 to the dollar, Indian corporations took out very large loans that must be repaid in dollars. They took on the debt thinking that Rupee was only going to go up. They were wrong...
What a classic case of currency arbitrage gone horribly wrong.
What if Congress leaves the next Congress government with a sick economy?
Luckily for you guys, at the end of the day, elections are usually decided by the health of the economy. Given the current economic situation, there is a real chance that Congress won't be re-elected.
New Recruit
What if Congress leaves the next Congress government with a sick economy?
Luckily for you guys, at the end of the day, elections are usually decided by the health of the economy. Given the current economic situation, there is a real chance that Congress won't be re-elected.