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Indian Rupee dives a new record low against dollar

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You people think I am joking or trolling you? It told you months ago this is going to happen and you are not a super power or an economic power. India is just a 4th world country.

Nope nope nope it is your economy which is in a serious trouble. Very bad and sad situation

https://twitter.com/x/status/1037216548354764800

https://twitter.com/x/status/1035007567876050944

@Robinhood Pandey

https://twitter.com/x/status/1037234378483486721

@zip now you see. With RBI not intervening rupee is going to crash like hell. Your govt wasted $25 billion just to delay what I had already predicted and there is no stopping it. Indian economy is destined for crash.
 
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LASER said:
I'm not saying Us would directly sanction India. But there is no cost benefits of fighting off the US. We will deal with the US as we always do, get a concession and, offer something in return and move on. By confronting, we will only make things worse for everyone.

There is no question of US sanctioning India. It's not the 90's.
Click to expand...

Our biggest consumption of oil is in the transport sector. Given our expected demand for fuel in growing sectors such as aviation, this demand will only quadruple by 2035, which means we will be even more dependent on imports than we ever were. In this scenario, we can expect INR to touch 100 if we don't get a grip on government interventions OR alternatively just opening the flood-gates of manufacturers in India using alternative of renewable energy in innovative manner.

A hypothetical middle ground: it might sound like a dream but imagine a Tesla India Motors Limited/XYZ India limted. This entity would be 100% incorporated in India, with a focus on manufacturing cars starting from Model 3/ABC Model to even smaller and economical hatchbacks. If the company is 100% exempted for 10 years from any form of government tax (even if other sectors cry foul), on the condition that they would source 80-90% of the material and components from within India, this could transform the cost structure for the company.

Model 3 cost about INR 25 Lacs. A hatchback series below this exclusively for India would bring the cost to about a third or one fourth, which is pretty standard for a good class of vehicles.

It would also trigger a race for EVs from all manufacturers to press for EVs into Indian markets. The supply would suddenly increase in double digits, resulting in increased economies of scale and reduced costs per unit. It would also allow investors to fund the development of EV ecosystem which would again make the governement's job easier in transitioning to a completely new fuel market.

This might take 5-years if all goes as per the plan here, but it is definitely worth it.

Don't you think?

BTW I am not talking about fighting the US off. They are actually very beneficial for us. My concern is a worse-case scenario where Trump just loses it and goes berserk. And knowing his volatility, I won't be surprised since the man is known to not listen to his own advisers and even is on a collision course against his fellow Republicans.

LASER said:
That will not be a lesser evil. It can still affect the value of our currency. This can only save our forex for a while, but we are not in dire need to save our forex like Pakistan. It is not ideal to give Chinese currencies better chances. Given they can easily manipulate it.

To put into perspective, US dollar transactions on a single day is worth $5 trillion. For a big shakeup, we need more than a China India or Russia. It's not going to happen. The villain is not USD, but our appetite for imports. And many stupid deals we made such as the FTA with ASEAN.
Click to expand...
vehicle.

I know $$ rules most of the world and pivoting to Euro/Yuan model will take time. But this is only a worse-case scenario. You have to also consider the fact that the shift from petrodollar would be between the largest and third-largest petroleum consumers. The market speculations alone would wipe out a considerable chunk of the value of dollar from the market.

It would also cause other issues such as funding of insurgencies in India, NGOs going on aggressive footing against people through their quasi-religious programmes etc. But this is all just a hypothetical worse-case scenario I am envisioning.
 
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The cost of rising Indian rupee by 0.20 Paisa is $2 billion. India needs $100 billion just to recover from this loss.

https://twitter.com/x/status/1037220121314553857

Indian is a failed economy. The only way is to pull out your investments from India and leave. Most major companies are shifting from India and pulling out their investment. It is also time for you to leave the progress days for India are over.

https://twitter.com/x/status/1037237390241406976

@LoveIcon can you see my dooms day scenario taking shape for India. Tell me now was I wrong.
 
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BHarwana said:
You people think I am joking or trolling you? It told you months ago this is going to happen and you are not a super power or an economic power. India is just a 4th world country.

Nope nope nope it is your economy which is in a serious trouble. Very bad and sad situation

https://twitter.com/x/status/1037216548354764800

https://twitter.com/x/status/1035007567876050944

@Robinhood Pandey

https://twitter.com/x/status/1037234378483486721

@zip now you see. With RBI not intervening rupee is going to crash like hell. Your govt wasted $25 billion just to delay what I had already predicted and there is no stopping it. Indian economy is destined for crash.
Click to expand...
How other major currencies are performing against dollar ?
 
. . . . .
BHarwana said:
Here my friend a new record broken by Indian rupee. This is getting bad real bad. Indian economy will suffer.

https://twitter.com/x/status/1037241072236351488

I made a 100% valid prediction. If RBI don't intervenes Indian rupee is doomed.
Click to expand...

And if RBI intervenes then it will use its so called Foreign Reserves thus reducing these reserves and in fact these reserves are actually just money borrowed externally to artificially jack up the indian reserves. As they say, once a baniya, always a baniya.
 
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ARMalik said:
And if RBI intervenes then it will use its so called Foreign Reserves thus reducing these reserves and in fact these reserves are actually just money borrowed externally to artificially jack up the indian reserves. As they say, once a baniya, always a baniya.
Click to expand...
Yep you are 100% on spot. This $400 billion reserve is not Indian money it is foreign loans actually India is broke and they have no reserves of its own. If RBI supports rupee it will deplete $2 billion per week and loan payment is due in March 2019. There is no way India can get out of this.

There is one way India can get out of this all but Modi will not do it because it will hurt him politically and India will suffer for some toe other wise they are doomed.

Where is that intelligent economist @SunilM

https://twitter.com/x/status/1037252805650669569
 
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