INR strengthen 2.77 rs against USD in last month due to govt. Efforts

[HariPrasad]

24 Oct31 Oct7 Nov14 Nov21 Nov


Inr is Rs 71.10 against USD compared to 73.87 USD in last month. Due to withdrawl of 40 bn USD from market every month by US, shortfall of USD caused a rise in USD against many currencies in the world. INR also fell to 74 against USD. Media started talking that it will fell to 80 against USD but Modi became alert and took series of steps which not only stopped downfall but also reversed the downfall trend. He struck currency swap agreement with japan. He made series of agreement with the countries like Rusdia, Japan, china, Iran etc. where the purchase payment shall be in local currency. This has reversed the trend and will have a long term positive effect on Indian currency.




24 Oct31 Oct7 Nov14 Nov21 Nov

 

[HariPrasad]

Modi follows a totally different type of economic model which is known as modinomics. He is a master politician whether it is dealing with economy or dealing with foreign relations. He does handles it in his own way totally different from others and much more effectively.

 

[Roybot]

So bad...so sad...

 

[zip]

Modi follows a totally different type of economic model which is known as modinomics. He is a master politician whether it is dealing with economy or dealing with foreign relations. He does handles it in his own way totally different from others and much more effectively.

Where is @BHarwana very bad very sad ? He used to post a tweet for every paisa raise in dollar value but no post for 277 paisa drop !!

 

[punit]

This will hurt many economists in our western neighborhood.

So bad...so sad...

Fake news

 

[Śakra]

But India depleted their forex to defend their currency, right?!?! @BHarwana

 

[kaykay]

But India depleted their forex to defend their currency, right?!?! @BHarwana

Last week Indian forex grew actually after fall for few weeks. This week also Its expected to grow more.

 

[Śakra]

Last week Indian forex grew actually after fall for few weeks. This week also Its expected to grow more.

Less than $400 billion tho hahahahaha

 

[Chinese-Dragon]

Why burn so many billions in forex reserves to defend the currency value, why not use the lower currency in order to boost the competitiveness of the domestic export industries? Which can help the trade deficit and even the budget deficit (indirectly) in the long-term.

 

[BHarwana]

Lol Indians living a day of fame with 2 INR gain. Sadly they don't know what is coming for them next.

 

[LASER1]

2 INR gain

Correction 3 INR now too bad and too sad.

Inr is Rs 71.10 against USD compared to 73.87 USD in last month. Due to withdrawl of 40 bn USD from market every month by US, shortfall of USD caused a rise in USD against many currencies in the world. INR also fell to 74 against USD. Media started talking that it will fell to 80 against USD but Modi became alert and took series of steps which not only stopped downfall but also reversed the downfall trend. He struck currency swap agreement with japan. He made series of agreement with the countries like Rusdia, Japan, china, Iran etc. where the purchase payment shall be in local currency. This has reversed the trend and will have a long term positive effect on Indian currency.

It is not completely due to the currency swap agreements. Rather it has to do with the fall in crude oil price which fell almost 25%.

 

[kaykay]

Lol Indians living a day of fame with 2 INR gain. Sadly they don't know what is coming for them next.

8+% GDP growth.

 

[Anik101]

Lol Indians living a day of fame with 2 INR gain. Sadly they don't know what is coming for them next.

38% increase in textile export.Too sad and too bad.
https://wap.business-standard.com/a...on-higher-overseas-demand-118111701055_1.html

 

[BHarwana]

Yes but what is the current crude oil price? Oil price is $50 and has fallen by $20 so I am very shocked that if indian govt was going to use this for currency manipulation why has it succeed in just gaining 2 INR? For example Pakistan is using this opportunity to reduce trade deficit and increase foreign reserves and they are doing very well with this small window where as India is again making wrong decision in this small oil price window as Saudis have told USA that if they keep giving waiver on oil to every one they will cut production down and this will gain push inflation into Indian economy and reduce growth.

 

[LASER1]

Yes but what is the current crude oil price? Oil price is $50 and has fallen by $20 so I am very shocked that if indian govt was going to use this for currency manipulation why has it succeed in just gaining 2 INR? For example Pakistan is using this opportunity to reduce trade deficit and increase foreign reserves and they are doing very well with this small window where as India is again making wrong decision in this small oil price window as Saudis have told USA that if they keep giving waiver on oil to every one they will cut production down and this will gain push inflation into Indian economy and reduce growth.

You don't know the current crude oil price. Too bad too sad. Look at the news it's $65/b (approx).

For example, Pakistan doing all that and your currency fell 1 rupee against dollar. Too bad too sad. Indian forex reserves improved. Now I know why there are no @BHarwana threads about Indian economy. No "good" news. That's too bad and too sad. We kinda missed your whining.

Go read back in your too bad and too sad threads, I have predicted this fall when Trump ban will not be enforced. Too bad and too sad you didn't listen.