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Indian currency exchange rate - why going down.

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web2000
Member since: May 06

Posts: 849
Location:
Post ID: #PID

Posted on: 23-05-12 09:49:05

Quote:
Originally posted by infocan

policy paralsis is the main reason why rupee dropping like a knife. Once govt annouce retail, avaiation , insurance & other sectors as open with 100% FDI , things will change. That decesion is a political decesion . UPA know it can only happen after kicking mamta didi out and bringing in pahalwan mulayam singh yadav.
Such a drastic drop in rupee value is bad for the country as it becomes more difficult to lift up.

FDI in retail will be detrimental in the longer term. It may uplift the rupee for the shorter term. It is like bringing a new East India Company (The reason history is taught in schools so that our kids learn and don't make such mistakes again what our ancestors did)
Uncontrolled growth is bad for any country. India should keep its growth close to 5-6% so that it can be maintained for decades.

JRF
Member since: Jul 04

Posts: 1853
Location: GTA, Ontario
Post ID: #PID

Posted on: 23-05-12 12:26:10

Other than the competitive service sector, there isn't significant export from there. Even food exports are slowing down and countries like Saudi even cultivate big time..

IT and BPO are already struggling due to tough competition from other asian and latin american countries.

Quote:
Originally posted by ashedfc

On the other hand a weaker Rs is good for Indian exports to stay competitive in the global markets. At a time when several domestic economies are faltering / slowing down; it could be an intention of the Finance Minister (India) to drive down the Rs, so export sector can stay competitive..

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

JRF
Member since: Jul 04

Posts: 1853
Location: GTA, Ontario
Post ID: #PID

Posted on: 23-05-12 12:50:56

yeah, he would pay just about another 1000 Rs. today to fill up the car tank..
what is the big deal.. may 2000 Rs additional next month and probably 5000 Rs. extra by the end of the year.

I know, I see all super duper rich every time I visit India.. the person working in tea shop earns 70,000 Rs per month. All office boys earn at least a Lakh.. oh. no let me wake up..

Quote:
Originally posted by tamilkuravan

As of now, no ordinary Indian is afraid.

Peace

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

JRF
Member since: Jul 04

Posts: 1853
Location: GTA, Ontario
Post ID: #PID

Posted on: 23-05-12 21:47:05

INR is losing its ground against Pakistani Rupee... (no offense pls)..
It was 1 INR = 1.95 PKR... now it is 1 INR = 1.64 and dropping further, I thought the prospects of PKR was way lower than INR...

Its sliding against every currency...

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Nightmare
Member since: Apr 06

Posts: 1170
Location:
Post ID: #PID

Posted on: 23-05-12 23:29:27

This is a ploy by corrupt and anti common man MMS. MMS Govt has deployed very faulty policy regarding public transport, allowing petrol guzzling cars to be imported, not allowing/encouraging foreign firms with expertize to explore (remember regressive reliance decision by corrupt ex chief justice) and fueling inflation by subsidizing schemes (read corruption) like national rozgar yojana. etc. Now under the guise of depreciating rupee, he would introduce FDI in retail which may bring temporary relief but would ruin many generations of India. Wal-mart was recently in news for bribing in Brazil and no wonder MMS would have collected advance Hafta. MMS is a curse on India

jigz787
Member since: Aug 04

Posts: 773
Location: Toronto
Post ID: #PID

Posted on: 23-05-12 23:55:27

Quote:
Originally posted by Nightmare

This is a ploy by corrupt and anti common man MMS. MMS Govt has deployed very faulty policy regarding public transport, allowing petrol guzzling cars to be imported, not allowing/encouraging foreign firms with expertize to explore (remember regressive reliance decision by corrupt ex chief justice) and fueling inflation by subsidizing schemes (read corruption) like national rozgar yojana. etc. Now under the guise of depreciating rupee, he would introduce FDI in retail which may bring temporary relief but would ruin many generations of India. Wal-mart was recently in news for bribing in Brazil and no wonder MMS would have collected advance Hafta. MMS is a curse on India

100% agreed.
Hope TK gets this..

jigz787
Member since: Aug 04

Posts: 773
Location: Toronto
Post ID: #PID

Posted on: 23-05-12 23:57:29

Quote:
Originally posted by ashedfc

True, India should follow a strong Rs policy, as the constant devaluation of Rs has only brought growth & prosperity to some (but in general relative poverty/misery/ corruption/crime has increased)..
Here's a snapshot of Rs.. since Independence..

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/577718_301156769968799_207751895975954_662158_945477641_n.jpg" border="0" alt="https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/577718_301156769968799_207751895975954_662158_945477641_n.jpg" />

& 2012 - 56.

And this tooo...

TK, not everyone in Bharat has a job like you and a foreign experience.
I am afraid even for your kids.. they may not see the same Bharat that you are seeing..

Contributors: JRF(10) tamilkuravan(5) bhootnath(3) web2000(3) febpreet(3) jigz787(3) Gurram(2) rajcanada(2) skal(2) infocan(2) RBO(1) Heart Stealer(1) san-hugo(1) looklook(1) Garvo Gujarati(1) Nightmare(1)

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Indian currency exchange rate - why going down.

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