Indian Rupee dives a new record low against dollar

[faithfulguy]

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All Indian PDFers screaming with elation at Turkish Lira’s fall, which has now stabilized, are completely absent when Indian Rupee is falling.

Rupee is in a much worse shape than Turkish Lira. Once Indians figure out that toilets papers are better for wiping, than rupee will drop even further

 

[BHarwana]

Indian Rupee breaks a new record for low today. The Asia's worst performing currency is taking a daily nose dive and reached to record low of 70.84 RBI has retracted its support of rupee due to the danger of depleting too much foreign reserves as debt payments are looming on head already.
This is due to indian economy being in the worst shape ever under BJP govt. FDI is pulling out of India on a massive scale and foreign investors are experiencing low returns due to fall of rupee.
@SunilM you input on the current state of Indian rupee.

https://twitter.com/x/status/1035011873161109504

https://twitter.com/x/status/1035013628326494208

Hello any one home.?

https://twitter.com/x/status/1035019436556804097

Dive dive dive.

https://twitter.com/x/status/1035022773893189633

Mayday mayday we are going down I repeat we are going down.

 

[Ultima Thule]

Indian Rupee breaks a new record for low today. The Asia's worst performing currency is taking a daily nose dive and reached to record low of 70.84 RBI has retracted its support of rupee due to the danger of depleting too much foreign reserves as debt payments are looming on head already.
This is due to indian economy being in the worst shape ever under BJP govt. FDI is pulling out of India on a massive scale and foreign investors are experiencing low returns due to fall of rupee.
@SunilM you input on the current state of Indian rupee.

https://twitter.com/x/status/1035011873161109504

https://twitter.com/x/status/1035013628326494208

Hello any one home.?

https://twitter.com/x/status/1035019436556804097

Dive dive dive.

https://twitter.com/x/status/1035022773893189633

Mayday mayday we are going down I repeat we are going down.

Concern/improve Pakistani currency first, than insult other currency @BHarwana

 

[BHarwana]

https://twitter.com/x/status/1035026406827118592

 

[Ultima Thule]

https://twitter.com/x/status/1035026406827118592

Why you indirectly insult other country, take care Pakistani economy first, they have better chance to pay their debts on schedule @BHarwana

 

[BHarwana]

@faithfulguy
This is temporary and is mainly due to global rise in oil prices and due the import cuts from Iran.

Aug. 28th - https://www.cnbc.com/2018/08/28/ris...pee-and-trade-deficit.html?&qsearchterm=india

Aug. 29th - https://www.cnbc.com/2018/08/29/ind...bal-oil-demand-growth.html?&qsearchterm=india

Reality is this :

Aug 26th - https://www.cnbc.com/video/2018/08/...ing-real-strength-cio.html?&qsearchterm=india

Aug 29th - https://www.cnbc.com/2018/08/29/reu...-ricard-profit-growth.html?&qsearchterm=india




We just got Berkshire - Paytm merger, Flipkart - Walmart merger and Samsung's biggest factory, Barclays second biggest office in India( google it ) and many hence I do not see FDI suffering in this country.

In my opinion, India should take advantage of this and boost its exports .

Sorry bro oil prices are only going up in India oil went down on the global market today.

Why you indirectly insult other country, take care Pakistani economy first, they have better chance to pay their debts on schedule @BHarwana

There is section for Pakistan economy bro we talk about Pakistan there not here in Indian section. Here we only talk Indian economy.

They don't have a better chance to pay their debt their debt is higher than the foreign reserves they have. Indian trade deficit also increased at an alarming rate. They have the worst performing currency in south Asia.

 

[BHarwana]

This is not temporary @M1210 with Indian rupee this has been continuously happening for many months now. If India trays to improve rupee foreign reserves go down. If the maintain reserves rupee goes down. FDI is leaving india and even the world bank is worried now. Their director soon to visit India..

 

[BHarwana]

Debt is mainly corporate based, not borrowed by the state. Let them suffer if they cannot pay(Capitalism rocks).

India debt to GDP ratio is average hence there is no need to worry(At least on this side, can't say the same about you as you look a bit over concerned for which I thank you)

They can pay the debt there is no issue for them it is your foreign reserves which will fall because Indian Govt considers dollar in market as part of its reserves.

Dollar is going up because most of those companies have started collecting dollar to pay the debt and when that $222 billion leave the country it will be more sad news for dollar.

 

[Ultima Thule]

They don't have a better chance to pay their debt their debt is higher than the foreign reserves they have. Indian trade deficit also increased at an alarming rate. They have the worst performing currency in south Asia.

And pakistan has better chance to pay their debts what a joke you have, worst currency of the subcontinent is not IR but PKR because its already fell on a dangerous level @BHarwana

 

[BHarwana]

And pakistan has better chance to pay their debts what a joke you have, worst currency of the subcontinent is not IR but PKR because its already fell on a dangerous level @BHarwana

You are going off topic you want to discuss Pakistan go Pakistan economy section. Don't troll.

WB forecasts India's GDP growth rate at a decent 7.3 % (just google it) and India is still amongst the most preferred FDI destination as consumption is still robust(Which I am pretty sure you understand due to India's market size)

Indian is importing nothing special so why do you think rupee is going down and trade deficit is falling. They will give India favorable status because their investment is stuck in India and if India fails they lose. It is $530 billion debt. How else will rebuttal fools to invest in India but now the word is out and FDI is leaving because India now has no security of stable rupee. It has been declining for too long.

 

[BHarwana]

India has already breached this figure and even moody is scared of true picture of India

https://twitter.com/x/status/1034776428720447488

 

[BHarwana]

India has more than enough foreign reserves($ 400.8 Billion - Aug. 24th) to take care of an economic emergency and we are not going through any economic emergency right now and India is capable enough to introduce a stimulus package just in case if things go a bit off the track. Whats happening right now is just a breeze and not a storm. We have mechanisms to take care of India in case of an economic crisis.

You have to pay $222 billion in loan in 2019 March. India loses $2 billion every week if RBI supports inr. If RBI don't supports INR modi loses election now this is the current problem. I am not adding or pulling out any thing from it.

 

[BHarwana]

I know this is exactly what you wanna see but trust me, it wont happen . Youy can come back and see in December.

Berkshire wouldn't have invested in India that too on a startup if this was the case. India is not a simple economy, you just cant loose or gain in one go . Again refer the article I shared above(Reuters) which states that our consumption will cross China's (Published by a Chinese economist ).

Your consumption will cross because china is exploring other means of energy and you are not. Modi has made wrong decisions and India will take more loans to survive. India has already decided to issue bonds this will further increase govt borrowing from $530 billion to up words. This is election year govt spending will also go up. And more money will leave country.

 

[BHarwana]

Still the debt to GDP percentage is average. When an economy opens up and GDP rises, debt to GDP ratio increases (USA - 105%)and again this money is not borrowed by the state. Corporates, Consumers, RBI and the Guv have more than enough resources to handle severe economic emergencies.

In this particular case, the only solution is to wait and everything will stabilize (RBI is already there to handle fluctuations)

In my opinion, India should boost exports right now.

This money is state borrowed the private borrowed is very less. India has only $400 fx loan is $530 now $222 will leave India in 7 months your trade deficit is increasing. This year India has current account deficit of $75billion and after loan payment India is left with only 7 more month of fx to pay for imports. India will ask loans more and this is going to be bad for Indian economy.

$75 billion will go in current account deficit.
$222 billion will go as loan payments.

These are the 2 biggest expenses for Indian Govt plus if rupee supported RBI will further deplete if not supported FID will leave. The only thing that can help India is that modi don't save his image and saves economy.

https://economictimes.indiatimes.co...p-in-fy19-sbi-report/articleshow/65561537.cms

 

[BHarwana]

No country seeks to clear debt in one go. This is not how an open economy works. By this logic pakistan should apply for a a bailout asap.

This is about money flow, and we have more than enough sources( businesses, trade, gold, bonds, stocks and not just loans) to keep the market stabilized. We do not take loan from the WB to stabilize our economy

Do not forget that India is amongst the top 5 importers of Gold.

There is more than enough wealth in India to take care of an economic crisis even if we stayed a closed economy.

You can take out all your anger on me and try to bring in Pakistan as much as you want but this situation is happening in India not in Pakistan.

This is your current top news about your rupee. Bash me as much as you want this is not changing.

https://twitter.com/x/status/1035029587237986305