Indian Rupee hits historic low: Now Rs 67.23 = 1 Dollar

[datalibdaz]

1$ = INR 68.70 ..Still Goin down...Yesterday it was 66.40

What is happening...

 

[shuttler]

poor rupee has shedded 16% in just one month

the home owners are losing property values and what is going to happen to the banks? What is the extent of non performing CDOs now in india?

 

[chhota bheem]

change in gov is the onlything left to stop the fall in rupee and economy.

 

[anonymus]

some are predicting 500...OMG...we r doomed

If congress win next election or it announce any more blood sucking schemes, then 500 is certainly on cards.

Food security bill would cost 3% of GDP. That is not worst of it. It would cost between 20-30% of projected revenue of government.

India would be facing a Zimbabwe like situation.

1$ = INR 68.70 ..Still Goin down...Yesterday it was 66.40

What is happening...

India is just weeks away from being slapped with Junk status.

 

[faithfulguy]

i m really looking forward to Rs70= 1 dollar

With the current rate, we will encounter Rs100=1 dollar in a month or so. Indians will not be able to import anything its people needs, especially fuel.

Some are predicting 100.

Some are even suggesting 200.

Madness，Total madness！

The way things are going, it would be 1 lahk Rs = 1 dollar soon. A free fall.

 

[Star Wars]

If congress win next election or it announce any more blood sucking schemes, then 500 is certainly on cards.

Food security bill would cost 3% of GDP. That is not worst of it. It would cost between 20-30% of projected revenue of government.

India would be facing a Zimbabwe like situation.



India is just weeks away from being slapped with Junk status.

not really , junk status is quiet far away from what i hear ...

as for congress, i believe they are doomed , their unpopularity has reached a stage where they cannot come back ... even in 2009 elections they got majority votes from the Urban areas ....

 

[Developereo]

Rupee may recover to 61 in next 6-12 months: report

A lot will depend on the next election.

What will matter is not whether Congress wins or BJP, but whether the next government is likely to be deadlocked. If investors sense five years of legislative paralysis, it won't be pretty.

 

[Ayush]

cruising towards 100

 

[Enemy]

FM Chidambaram blames Pranab Mukherjee for the dire state of the economy - The Economic Times

 

[eastwatch]

Ignorant? Lmao do you even know what that word means? Your the guy that thought all of India lived in slums and you call me ignorant. Instead of staying in your room all day obsessing over India actually come visit and see the reality.

It is OK if a few Indians live like Princes. But, what about the others in the lower rungs. India should get rid of its Jat Pat caste system and all people should think themselves as part of the larger society. Jat Pat creates haves and havenots. But, india is not doing anything at all to abolish it.

PDF Indian posters do not care about their country's economic reality. They are now more concerned about not being able to show off their economic strength any more only because Indian currency is no longer strong with the infusion of cheap foreign money. India's economy has already shrunk to $1.5 trillion only.

 

[Star Wars]

A lot will depend on the next election.

What will matter is not whether Congress wins or BJP, but whether the next government is likely to be deadlocked. If investors sense five years of legislative paralysis, it won't be pretty.

True, but i have also been hearing that the investors are very unhappy with the current govt. and is asking them to leave
We are all aware how Modi is very famous with corporates ... there is an interesting article on that ..

Rupee's fate linked to Narendra Modi?

New Delhi: International brokerage CLSA on Friday said that the current financial crisis could be a catalyst for Gujarat Chief Minister Narendra Modi’s victory in the 2014 general elections.

Christopher Wood of CLSA in his recent column wrote, “Greed & fear's view is that the worse the sense of crisis the better Modi's chance of winning."

"The Indian stock market's greatest hope is the emergence of Gujarat Chief Minister Narendra Modi as the BJP's prime ministerial candidate," he added.

India's economy has been continuously facing pressure on account of rupee depreciation, fiscal deficit management and structural reforms.

According to an HSBC report, India faces the most difficult situation as the country's growth is slowing, inflation remains elevated and it has a sizeable current account deficit.

Earlier this week, leading agency Standard & Poor's had said it will maintain negative outlook for India as currency depreciation is adversely impacting investor confidence.

Rating agency Fitch has also said it will maintain a 'Stable Outlook' on India's sovereign rating at 'BBB-'.

With Agency Inputs

Rupee's fate linked to Narendra Modi?

 

[anonymus]

not really , junk status is quiet far away from what i hear ...

as for congress, i believe they are doomed , their unpopularity has reached a stage where they cannot come back ... even in 2009 elections they got majority votes from the Urban areas ....

That is only if government control fiscal deficit. Rating agencies have stated it clearly that they would downgrade India's status to Junk if Deficit crosses 4.8%.


Controlling deficit does not seem to high on priority of welfare leeches.

 

[jpsingh]

Are you happy because Indian is going through bad time??

Take it from me buddy rs will hit 70 next Monday

 

[itaskol]

how fast increase the workers salary in India?

 

[anonymus]

A lot will depend on the next election.

What will matter is not whether Congress wins or BJP, but whether the next government is likely to be deadlocked. If investors sense five years of legislative paralysis, it won't be pretty.

Congress win would completely ruin economy.

They had maximum number of seats in this lok sabha that any party has got in past 22 years yet they ran the most ruinous regime of past 22 years.

You cannot cure disease of communism that is part of DNA of congress