From Over 74 to less than 69 Against USD, INR Appreciated by Rs 5 (7%) in 6 months.

[God Parshuram]

On the 12th October 2018 the spot inter-bank market saw:
Open: 1 USD = 74.0526 INR

Close: 1 USD = 73.6813 INR

Average: 1 USD = 73.762 INR

Lowest: 1 USD = 73.5739 INR

Highest: 1 USD = 73.95 INR

Today's Live Us Dollar into Indian Rupee Exchange Rate
Spot: 1 USD = 68.9650 INR

Independent Provider: 1 USD = 68.4822

Avge. UK Bank International Payment: 1 USD = 66.2616 INR

From October 12, 2018 to April 11, 2019, INR went up by rs 5 in 6 months. This is a rise of 6.75 % in 6 months.

Modi government took series of steps when INR fell against USD in October 2018. The efforts are paying off now. INR strengthened by Rs 5 from over 74 to less than 69 in 6 months. These series of steps taken has a far reaching consequences and it has reduced the Dependence of India's international trade in USD.

Many people suggested at that time that India should issue NRI bonds like previous governments used to do. However midi took a totally different path and entered into agreement with many countries to do trade in local currency and currency swapping in yen. So unlike what Chidambaram did in 2013, modi stabilized INR without increasing liability of USD. INR has recovered very strongly against USD now. This Recovery In last 6 months has added more than half of Pakistan's Economy just by INR appreciation to India's GDP. India now must take many more measures to strengthen INR. The current strong economy allows India to take some stringent measures which may give further rise to India's economy and strength of INR. In many products and services, India should stop selling them at a marginally higher price on cost. Rather India should sell it at a rate marginally lower than the similar services available elsewhere. I am sure that many more steps will follow after Modi wining 2019 general election.


https://www.poundsterlinglive.com/b...r-to-indian-rupee-exchange-rate-on-2018-10-12

 

[AZADPAKISTAN2009]

Election move

 

[God Parshuram]

Like PKR falling to 141 against USD is post election move?

 

[Tom M]

Election move

No nothing to do with elections rather receding oil import bills nothing else. It can very much breach 75 again if crude prices raise again.

 

[Chhatrapati]

The currency swap has a catch. If the trade with a country, say Japan increases, our forex will be depended on Yen, which is not as stable as USD. Currency swap agreements are stop gap measures. There should be more reforms done to boost export and import.

@Tom M Sometimes I wonder why you reply to the dum dums? Such stupidities do not warrant a reply from senior members.

 

[God Parshuram]

The currency swap has a catch. If the trade with a country, say Japan increases, our forex will be depended on Yen, which is not as stable as USD. Currency swap agreements are stop gap measures. There should be more reforms done to boost export and import.

Its a diversification measure. Now India trades with China, Iran and Russia in INR. With the arrival on Battery vehicles, Petroleum demand is going to reduce. Methanol is also coming in big way. This together with Solar and wind energy is going to be the game changer. Now we need to focus on capital and high end goods production in India.

 

[Chhatrapati]

Its a diversification measure. Now India trades with China, Iran and Russia in INR. With the arrival on Battery vehicles, Petroleum demand is going to reduce. Methanol is also coming in big way. This together with Solar and wind energy is going to be the game changer. Now we need to focus on capital and high end goods production in India.

What happens tomorrow, the Ruble crashes? We have some $50 billion equivalent of Rubles in our treasury, and the value goes down to $25 billion. It'll virtually wipe out $25 billion due to maybe a simple political issue in Russia.

 

[God Parshuram]

What happens tomorrow, the Ruble crashes? We have some $50 billion equivalent of Rubles in our treasury, and the value goes down to $25 billion. It'll virtually wipe out $25 billion due to maybe a simple political issue in Russia.

Whether one should worry about something which is already crashing or a hypothetical scenario where something may crash in future. Couple of rupes of devaluation INR against USD will wipe out the equal amount against the scenario you quoted.

 

[mastaan]

What happens tomorrow, the Ruble crashes? We have some $50 billion equivalent of Rubles in our treasury, and the value goes down to $25 billion. It'll virtually wipe out $25 billion due to maybe a simple political issue in Russia.

You are not going to educate bhakts about central banking and treasury... For them, the only next step is India making Jet Engines, 600MW gas turbines and a few nuclear reactors and we are a modern country and our dependence on dollar will be 0.. yep, zero... Bhaajaappaaanomics.. new subject

 

[God Parshuram]

You are not going to educate bhakts about central banking and treasury... For them, the only next step is India making Jet Engines, 600MW gas turbines and a few nuclear reactors and we are a modern country and our dependence on dollar will be 0.. yep, zero... Bhaajaappaaanomics.. new subject

And B*tt hurt idiots will even discover negativity out of INR getting strong. For them. any of India's achievement has no value till Modi is in power.

 

[mastaan]

And B*tt hurt idiots will even discover negativity out of INR getting strong. For them. any of India's achievement has no value till Modi is in power.

It's simple trading outcomes of a partially convertible currency.. there is no modi govt in this - don't you see that.. That part is what makes you go blind about it.

INR getting strong actually is bad news for exporters including IT companies.. which is the part of business you wanted to grow.

 

[Viny]

This kind of thread will cause @BHarwana heart attack.
This is myth, controlled by Modi and sazish against pakistan.

 

[BHarwana]

This kind of thread will cause @BHarwana heart attack.
This is myth, controlled by Modi and sazish against pakistan.

Nope wow what a reformist modi is.

#paksupportsbjp

 

[Yaseen1]

modi is burning indian foreign reserves for winning elections and actually indian rupee is overvalued and will devalue in future

 

[Chhatrapati]

modi is burning indian foreign reserves for winning elections and actually indian rupee is overvalued and will devalue in future

Our forex is increasing. How's that burning dollars?