indian Rupee hits new low of 54.82 per dollar

[Chinese-Dragon]

Well, I guess India's attempt to control the value of the Rupee failed:

India Forces Local Exporters to Buy Rupees in Move to Lift Currency - WSJ.com

This really deserves another LOL.

If you want to manage your exchange rate, you need a concerted effort and plenty of spare cash. Switzerland failed recently because they didn't put enough heart into it, and now India failed as well.

There is more at stake in India though, considering that inflation is through the roof and many people are barely on the line as it is. Rising costs of imports will make that even worse.

 

[Abhishek_]

This really deserves another LOL.

If you want to manage your exchange rate, you need a concerted effort and plenty of spare cash. Switzerland failed recently because they didn't put enough heart into it, and now India failed as well.

There is more at stake in India though, considering that inflation is through the roof and many people are barely on the line as it is. Rising costs of imports will make that even worse.

^apparently it is causing more alarm among chinese, rather than indians :facepalm:

 

[StingRoy]

Well... atleast the silver lining is that it will give a boost to the Indian service industry. They should capitalize on this opportunity to go into new markets and also try to spend more money into marketing.

IT cos to gain from falling rupee - The Times of India

 

[Chinese-Dragon]

^apparently it is causing more alarm among chinese, rather than indians :facepalm:

I am not alarmed, but intrigued.

 

[Abhishek_]

I am not alarmed, but intrigued.

good for you

 

[bindaas]

^apparently it is causing more alarm among chinese, rather than indians :facepalm:

Their export to India will get expensive in local market.

 

[Nakki Nair]

good for you

Well, I wasnt aware that CD didnt know about pegging currencies at a 'rate' which can be changed as and when the CPC can.

But hey, high IQ. no questions asked!

 

[miss]

ponzi scheme gonna explode，enough said.

we did without trying, what you have had to do with heavy buying.

the reason obviously is the large fiscal deficit. and the reason for that is profligate spending on subsidies of no value.
crap politicians of india. so india was indeed shining under BJP. hope the stupid people realise that.

 

[Chinese-Dragon]

we did without trying, what you have had to do with heavy buying.

the reason obviously is the large fiscal deficit. and the reason for that is profligate spending on subsidies of no value.
crap politicians of india. so india was indeed shining under BJP. hope the stupid people realise that.

Congress has the best vote-bank politics in all of Asia.

They can't be beaten, not even in 2014, even if they sink the entire economy to the ground.

They have already defamed Modi beyond the point of repair, and it's still two years away from the election.

 

[faizahmad]

I Hope RBI takes some sensible measures........... this is of the highest record fall in the value of rupees

 

[Backbencher]

Due to an awesome european economy rupee is suffering . I'm sure the situation is just the same across the globe

 

[miss]

i earn in $$ nowadays , so good for me since I have an EMI for a flat in bangalore.

Congress has the best vote-bank politics in all of Asia.

They can't be beaten, not even in 2014, even if they sink the entire economy to the ground.

They have already defamed Modi beyond the point of repair, and it's still two years away from the election.

I have said this earlier, you are from chini intelligence

 

[shuttler]

The case of india right now is looming large with all the symptoms of an ailing economy which goes more serious by the day. RBI can't do much except juggling the tricks with NRIs who dont have a crystal ball to tell how low will the rupee go or if the hiking of interest rate is good enough to cushion the risks.

Its fx is enough to cover 6 moths of bills. It needs loans from somewhere.

It has already forcibly asked exporters and banks to short usd. These measures did not last long before the rupees go south again in the last few days.

Greece may collapse unless there is a miracle! Then Greece will be out of the Eurozone! Rupee will go 60 to 1 USD, believe me!

Well... atleast the silver lining is that it will give a boost to the Indian service industry. They should capitalize on this opportunity to go into new markets and also try to spend more money into marketing.

IT cos to gain from falling rupee - The Times of India

IT cannot save the rupees much. US$ 60 bln per year of IT is related to overseas buz. The fund available for rupee rescue is small.

 

[Chinese-Dragon]

I have said this earlier, you are from chini intelligence

I wish.

Anyway, China is backing Modi instead of Congress. So our leaders must think he has some chance.

China rolls out red carpet for Narendra Modi - Times Of India

 

[Aramsogo]

Well... atleast the silver lining is that it will give a boost to the Indian service industry. They should capitalize on this opportunity to go into new markets and also try to spend more money into marketing.

IT cos to gain from falling rupee - The Times of India

HP just announced 25,000 layoffs. There is an IT recession coming.

What's funny is all the doom and gloom about China by Indians, turned out the Chinese members were 100% right about India.