Indian Rupee hits historic low: Now Rs 67.23 = 1 Dollar

[My-Analogous]

I read one article about month ago and it was research by German bank stated that Indian Rs. is over priced and it will be soon hit a price of some where between 70 to 71 against dollar. and on that time INRS was 61

 

[Lightningbolt]

India is now a failed state with all the problems in that country.

Indian economy is disintegrating right before our eyes.

So much for overtaking us
Dream on!

 

[ChinaToday]

i m really looking forward to Rs70= 1 dollar

 

[Shinigami]

man. look at the chibots and the south asian cheerleaders go. and the mods just sit and watch

 

[Lightningbolt]

i m really looking forward to Rs70= 1 dollar

Yup, my bet is its going to hit 70 before October.

Can't wait till it hits 70. Gonna be fun

Hopefully it hits 100 before the end of the year, that would be epic!

 

[ChinaToday]

Yup, my bet is its going to hit 70 before October.

Can't wait till it hits 70. Gonna be fun

Hopefully it hits 100 before the end of the year, that would be epic!

Take it from me buddy rs will hit 70 next Monday

 

[eastwatch]

And with this GDP is below $1.5 trillion and per capita income around $1150-1200. Pakistan GDP per capita is around $1300 Funny how Indians used to say crap things about Pakistani economy which is doing horrible because of terrorism and energy crisis, karma is bit***

Bangladesh with its revalued Taka and robust economic activities will catch up with the $1,300 per capita within four years - this is what the Finance Minister of BD stated on the day before yesterday.

 

[Ghareeb_Da_Baal]

Well, Nothing can be done. Our Politicians are hell bent on committing Suicide. Economist are covering their face with their palm or twiddling their thumbs (I could not post the picture, my internet speed is slow from morning). To all our neighbors "Rejoice and have a sound sleep".

What do you anticipate the economy to be like with a new government in India next year?

 

[eastwatch]

Well, Nothing can be done. Our Politicians are hell bent on committing Suicide. Economist are covering their face with their palm or twiddling their thumbs (I could not post the picture, my internet speed is slow from morning). To all our neighbors "Rejoice and have a sound sleep".

Seems, Indians were kept in illusion by their govt, who borrowed easy money from western countries and spent not on social or physical infrastructure projects, but on prestige projects that would create a false image of India abroad.

Now that India is shedding off its fat but unreal skin, its true face is coming out to the surface. This is the result of "Eating Ghee by borrowing money from others."

 

[Enemy]

Rupee plunges further, Rs 68.50 = 1 Dollar

New Delhi: The rupee on Tuesday plunged further by 176 paise to record low of 68 against the US dollar in early trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers and persistent capital outflows.

The rupee had ended down 194 paise at 66.24 against the US dollar after hitting an intra-day low of 66.30 in the previous session.

Forex dealers said besides strong demand for the American currency from importers and banks, dollar's strength against other currencies overseas amid expectation that the Federal Reserve will soon taper its bond-buying programme weighed on the domestic currency.

They said several measures announced by the government and the RBI failed to check volatility in the rupee.

Weak domestic fundamentals such as record current account deficit concern too put pressure on the rupee, they said.

In order to arrest the rupee slide, RBI had announced measures such as restriction on Indian firms investing abroad and on outward remittances by resident Indians, triggering talks of return of capital control regime.


Meanwhile, global ratings agency Fitch on Monday said India's fiscal numbers "look weak" and warned of a downgrade if the country is unable to meet the fiscal deficit target.

The rupee is down over 17 percent so far this year despite efforts by policymakers to prop it up.

Rupee plunges further, sinks past 68.50 Vs dollar

 

[cirr]

Yup, my bet is its going to hit 70 before October.

Can't wait till it hits 70. Gonna be fun

Hopefully it hits 100 before the end of the year, that would be epic!

Some are predicting 100.

Some are even suggesting 200.

Madness，Total madness！

 

[Star Wars]

Some are predicting 100.

Some are even suggesting 200.

Madness，Total madness！

some are predicting 500...OMG...we r doomed

 

[forcetrip]

Could anyone mention the going rates for it in Pakistan since we are in the business of comparing. If you could do a week by week analysis for the past 3 months you will see that the dollar is getting stronger, albiet that the Indian economy is doing worse than expected its still not the whole story.

 

[Pulsar]

India was never richer than pakistan，look at their disgusting slums and starving childrens.

So you don't have any disgusting slums and starving children in China? Surprising you don't know anything about your own Han Land!

Oh wait, you guys are so brainwashed, you think everything is all hunky dory out there! It's not! Except for a few facades like Shanghai and Beijing, your other cities and villages suck big time! Your cities have come up on the blood and tears of the poor who have been forcibly thrown out from their lands to build your obnoxious looking skyscrapers. Human rights be damned! The poor Chinese had no rights anyway!

 

[TopCat]

So you don't have any disgusting slums and starving children in China? Surprising you don't know anything about your own Han Land!

Oh wait, you guys are so brainwashed, you think everything is all hunky dory out there! It's not! Except for a few facades like Shanghai and Beijing, your other cities and villages suck big time! Your cities have come up on the blood and tears of the poor who have been forcibly thrown out from their lands to build your obnoxious looking skyscrapers. Human rights be damned! The poor Chinese had no rights anyway!

China reshaped the world economy. It invented a complete different political and economic ideology which will be written in history. They should be proud of it and we in south asia seriously should follow their steps to some extent...