India’s falling rupee hits all-time low, what it signifies

[SoulSpokesman]

@nahtanbob

True. In many ways EMs benefited by the zillions of QEs done by the Fed in past- cheap capital flowed out to EMs. Now it is being reversed.

Regards

 

[MH.Yang]

@RealNapster @nahtanbob @Turingsage @MH.Yang

India has indeed lost a 100 bn or so forex reserves. There are multiple reasons:

1. India had substantial non dollar forex (JPY, EURO, Gold, GBP etc)- there has been a sharp devaluation against the USD.
2. India has had a CAD of almost 10 billion pm in the current fiscal, which has not entirely been covered by FDI or other long term inflows.
3. Defense of INR by RBI.

Regards

The biggest problem is the sharp expansion of the trade deficit.

 

[GreatHanWarrior]

Uan fell 10.40 pc against usd in 1 year. INR fell by 9.43 pc in a year. PKR fell by 30 pc. Yet, Chinese and Pakistanis both are happy because INR weakened against USD.

You mean... Indian rupees are eligible to compare Chinese yuan??

Can you understand what is waste paper and currency?

 

[SoulSpokesman]

@GreatHanWarrior

Can you understand what is waste paper and currency?

Why are you comparing CNY to waste paper?

Regards

 

[GreatHanWarrior]

@GreatHanWarrior

Can you understand what is waste paper and currency?

Why are you comparing CNY to waste paper?

Regards

I just hope that Indians understand the "value" of their currency better.

 

[MH.Yang]

@GreatHanWarrior

Can you understand what is waste paper and currency?

Why are you comparing CNY to waste paper?

Regards

In 1994, one dollar was converted to 8.6CNY.
In 2022, 1 US dollar was converted to 7.2CNY.

In 1994, one dollar was converted to 11.2 rupees.
In 2022, one dollar was exchanged for 82.5 rupees.


In fact, CNY is the only currency in the world that has appreciated against the US dollar in the past 30 years. CNY is also the most stable currency in the world.

 

[Paranoid Android]

Uan fell 10.40 pc against usd in 1 year. INR fell by 9.43 pc in a year. PKR fell by 30 pc. Yet, Chinese and Pakistanis both are happy because INR weakened against USD.

This is a fake fetish forum Indian rupee has depreciated by 4 rs in last 6 months & these people have imagined doom for India. You can't teach logic to these lowkey people. Bankrupt Pakistanis should put their focus on their own economy for better good.

 

[MH.Yang]

This is a fake fetish forum Indian rupee has depreciated by 4 rs in last 6 months & these people have imagined doom for India. You can't teach logic to these lowkey people. Bankrupt Pakistanis should put their focus on their own economy for better good.

On January 1, 2022, one dollar can exchanged for 75.0390 rupees.

On October 10, 2022, one dollar can exchanged for 82.4017 rupees.

 

[villageidiot]

Yes

The good news is Idiot Modi is bankrupting India by trying to defend Indian Rupee slide against the US dollars.

quick. someone send Dar over to india.

 

[-=virus=-]

Good, more foreign tourists.. aao.

 

[SoulSpokesman]

@Paranoid Android

Bankrupt Pakistanis should put their focus on their own economy for better good.

To be fair, very few Pakistanis (apart from my dear friend Brofessor sb @RiazHaq ) are finding much fault with Indian Finance Ministry. It is their taller than mountain friends who have taken up cudgels against the alleged Indian economic mismanagement.

Regards

 

[vishwambhar]

It's horrible.... 2 days back it was 82..... and I feel by this diwali it will exceed 85

 

[SoulSpokesman]

@vishwambhar

It depends on how often the Fed increases rates

Regards

 

[MH.Yang]

@vishwambhar

It depends on how often the Fed increases rates

Regards

It depends on the current CPI of USA.

 

[Paranoid Android]

On January 1, 2022, one dollar can exchanged for 75.0390 rupees.

On October 10, 2022, one dollar can exchanged for 82.4017 rupees.


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Considering the global recession going on, aftershock of COVID contraction & India being a import centric economy for the most part, the fall of rupees is nothing worse than it was expected.