Indian rupee hits new low despite central bank moves

[GSK]

I guess the Indian government already give up trying to reverse the rupee falling trend by themself now, because if they could they would have try all they could and done their best in previous months. So probably they already contacted IMF or some other organizations/countries discussing financial help. Without help, only a miracle can save the Indian economy, for example, USA is beaten badly in Syria.

 

[Vinod2070]

This thread is fun.

Good to see some excitement finally in some very drab lives.

 

[Imran Khan]

This thread is fun.

Good to see some excitement finally in some very drab lives.

remember 2009 to 2011 your own posts ? its karma bachy

 

[Vinod2070]

remember 2009 to 2011 your own posts ? its karma bachy

Now sure what you are taking about.

 

[Imran Khan]

Now sure what you are taking about.

you will never

 

[eastwatch]

I guess the Indian government already give up trying to reverse the rupee falling trend by themself now, because if they could they would have try all they could and done their best in previous months. So probably they already contacted IMF or some other organizations/countries discussing financial help. Without help, only a miracle can save the Indian economy, for example, USA is beaten badly in Syria.

However, I believe, whatever may be the immediate reaction in the world, the GoI is intentionally not defending its currency. A weak currency helps to export and remittance more, and import less.

India will have to pay back quite a good sum of money to its international lenders this year. So, it is necessary to do some belt tightening.

An economic hardship falls much harder on the poor of a country than the people with money and assets. I personally endorse the disbursement of food stamps to the very poor. It will certainly safeguard them to overcome the difficult time ahead. GoI has earmarked about $30 billion in the food help sector.

Poor will survive and will contribute to the economy in the future. It is a great help. Indians do not have to be pessimistic for the future. It is certainly not the end of India.

 

[Vinod2070]

We are still talking about a growth rate in the top quartile in the world!

Not sure what people are going on about.

 

[Lightningbolt]

We are still talking about a growth rate in the top quartile in the world!

Not sure what people are going on about.

You don't seriously expect us to believe that the Indian economy is growing do you?

No way in hell does a country with a collapsing currency have growth. Your currency is collapsing because your economy is so messed up.

 

[Tshering22]

You don't seriously expect us to believe that the Indian economy is growing do you?

No way in hell does a country with a collapsing currency have growth. Your currency is collapsing because your economy is so messed up.

You communists like to dramatize stuff don't you?

'Collapse', 'annihilate', 'nuke', 'destroy', 'fail'....

Those are some really impressive words for creating drama.

 

[shuttler]

A collapsing rupee and an terminally ill economy have made some Indians the Chinese proverbial rats that try to run across the street。

. and a barrage of spanking from all fronts

 

[IBRIS]

The Indian economy and the Rupee is collapsing exactly because the fundamentals of the Indian economy is absolutely dreadful. No country with strong fundamentals experience such a dramatic currency collapse.

Dream on Indian, clueless as ever

You are going to bite your own tongue, mark my words.

 

[farhan_9909]

my indian friend posted this on his wall

Rupee fell to nearly 69 against dollar today. And on that note...

USD = UNITED STATES DOLLAR
EUR = EURO
GBP = GREAT BRITAIN POUND
INR = IZZAT NAHI RAHI

my indian friend posted this on his wall

Rupee fell to nearly 69 against dollar today. And on that note...

USD = UNITED STATES DOLLAR
EUR = EURO
GBP = GREAT BRITAIN POUND
INR = IZZAT NAHI RAHI

 

[VelocuR]

Indian currency has been raped tweets by famous Indian Novelist‏


Chetan Bhagat under fire over ‘rape’ comment

28 August 2013

Best-selling Indian novelist Chetan Bhagat faced nationwide anger on social media sites on Wednesday after tweeting that the country’s plunging currency had been “raped”.The comments by Bhagat, known for his romantic, funny novels which are popular with India’s middle-class youth, came amid renewed outrage over violence against women after the gang-rape in Mumbai of a photographer last week.

Twitter users slammed the former investment banker for the tweet — in which Bhagat said: “The rupee is asking, is there no punishment for my rapists?” — accusing him of trivialising a grave problem.“Making a fun of a serious offence rather an inhuman act & comparing with downfall of Rupee is NOT AT ALL funny,” wrote one user.India’s online news portal Firstpost told the novelist bluntly in a prominently displayed article: “Chetan Bhagat, rape jokes are just not funny”, adding they are “tasteless and just plain crass”.

The Mumbai attack rekindled memories of the fatal gang-rape of a 23-year-old student in New Delhi last December that sparked nationwide protests and brought to the surface anger about violence against women in India.The victim in the Mumbai attack was released from hospital on Wednesday.Bhagat swiftly deleted his tweet as the uproar grew, calling it “harmless” and saying he had referred to rape as a “metaphor” for the rupee’s troubles.

It came on a day when the rupee plunged nearly four per cent against the dollar to a fresh record low amid investor concern about a lack of economic reforms, a string of government corruption scandals, and weak public finances.“As all of you hunt for that (deleted) tweet realise that your economy is in a deep crisis. And do consider raising your voice about it,” Bhagat tweeted later.

Chetan Bhagat under fire over ‘rape’ comment - Khaleej Times

 

[kurup]

You communists like to dramatize stuff don't you?

'Collapse', 'annihilate', 'nuke', 'destroy', 'fail'....

Those are some really impressive words for creating drama.

You missed 'weekly warnings' from the list .....

 

[Beast]

You are going to bite your own tongue, mark my words.

The only thing Indian can do is to put on a brave front. The final blow will come soon. George Soros are preparing to give rupee a real wacking.

If rupee drops til 75 rupee vs 1 USD. Indian economic growth in 2013 in terms of USD will be negative.