Real story of American Dollar v/s Indian Rupee

[faithfulguy]

It just hit 64-65 & indians are crying...look at Pakistanis calm & quiet even when 1US$=107PKR.

But is PKR dropping at a record rate? The problem is that rupee is in a free fall and without gov control, it could be 1000 rupee to 1$ by now.

 

[Chinese-Dragon]

But is PKR dropping at a record rate? The problem is that rupee is in a free fall and without gov control, it could be 1000 rupee to 1$ by now.

No. Not in relative terms.

The Indian Rupee is by far the worst performing currency in the past year.

 

[Shadow_Hunter]

But is PKR dropping at a record rate? The problem is that rupee is in a free fall and without gov control, it could be 1000 rupee to 1$ by now.

This is the best example of chinese IQ.

 

[Arya Desa]

The funny thing is that Manmohan Singh is a highly intelligent economist, so he obviously knows what is the "right" thing to do for the long term health of the Indian economy.

But there is a big difference between knowing the right thing to do, and having the political will to do it.

Get the Indian government to stop chaining Manmohan Singh's hands with political games, and give him a full mandate to fix India's economy with structural reforms, without worrying about vote banks or the coming election. Then he can fix it.

Sir this is salt on the wound; It's even worse than not knowing. It's like they key is just out of finger's reach. The man is a highly educated economist yet cannot do anything to fix the country. India, with a smaller GDP, should be growing faster than China, should. It goes to show democracy isn't a one shoe fits all system.

 

[jaunty]

At least your fellow Gujarati (Modi) has a good chance of becoming the Indian PM now, since the economy is usually the most important factor in elections.

That is stealth trolling of the highest order. Hats off.

 

[Lightningbolt]

Buy Indian products?

What Indian products?

Indian growth miracle is over, and good riddance I say . The Indians were getting too arrogant and now their economy has collapsed and their growth story is finished.

Couldn't happen to a better bunch of people as far as I'm concerned.

 

[curioususer]

Yen trades at nearly 100. Abe is doing some funky things now.

India need more governance , less government.

Japan is not comparable to India because of population.

 

[eastwatch]

You focus on textiles and hilsa supply for us ok, we worry about steel, automobile manufacturing, solar , hydel, nuclear, etc.

So, we can see the net result of your tremendous economic activities and achievements in many fronts during the last six decades. As a result, India is facing today the prospect of IR1.00 = BT1.00.

It seems India was always asking for the Hedge Funds. These funds came and are now getting out of Indian mismanaged economic mess, albeit, by making profit with buying and selling the stocks they were holding. I will not be surprised the Rupee becoming more devalued.

 

[Anurag Rathore]

Buy Indian products?

What Indian products?

Indian growth miracle is over, and good riddance I say . The Indians were getting too arrogant and now their economy has collapsed and their growth story is finished.

Couldn't happen to a better bunch of people as far as I'm concerned.

hbitter but truth

1)In any field.....we haven't produced even a good razor blade man(truth be told)

2)in pharmaceuticals we make only generic medicines,ie copies of foreign medicines

3)in defence-i guess u know better

4)space- we are going to test a cryogenic engine in 2013..........do i need to say more

5)auto sector-only tata nano engine(625 cc 2 cylinder engine).......that too mostly provided by bosch

 

[eastwatch]

This is about 15 yrs back. So my aunt was coming back from the US. And she said she's got me t-shirts. Was very excited and it said Big Apple and more. Then I looked at the Made in tag, it said Made in Bangladesh. And i was like wtf?

Anyways, om topic, you are right. It could create problems for potential competitors of India. But, the problem is there are more stringent issues which will need to be tackled. Textiles is just one part of it. The main thing which needs to be tackled is power and manufacturing. The problem with the current scenario is that it requires a person to graduate to get in to the service sector, where India is strong.

Tapping in to the manufacturing sector will enable citizens with lower qualifications to be quickly trained in aspecific operation and put to work. Nobody seems to be talking about this fundamental issue. THAT is the main problem today.

Yes, manufacturing is the base of a strong economy where every able bodied citizen produces something. However, from the very beginning Indians are more appreciative of their IT sector and less on their manufacturing sector.

Another point is India wants to become famous with cheap stunts. One is its love for IT only and the other is allowing its conglomerates to make too much profit in the domestic market, allowing them to cheat in paying corporate taxes, and finally allowing their money in dollar to take flight to western shores where an acquisition of a big name raises up the name of an Indian company as well as India itself.

Well, I think this foreign acquisition by paying in foreign currency is unwanted for a country where the basic needs of its own citizens remain unfulfilled. It brought only a temporary name value to India. However, the consequence has become such that BD currency may shortly become equivalent to Indian Rupee.

 

[Lightningbolt]

hbitter but truth

1)In any field.....we haven't produced even a good razor blade man(truth be told)

2)in pharmaceuticals we make only generic medicines,ie copies of foreign medicines

3)in defence-i guess u know better

4)space- we are going to test a cryogenic engine in 2013..........do i need to say more

5)auto sector-only tata nano engine(625 cc 2 cylinder engine).......that too mostly provided by bosch

Finally an Indian that calls a spade a spade.

I admire people like you.

India must first recognise its limitations and then you can proceed to get better.

 

[Anurag Rathore]

Finally an Indian that calls a spade a spade.

I admire people like you.

India must first recognise its limitations and then you can proceed to get better.

Its harsh reality till how much time we can import we made just an engine that also for drdo nishant
nothing else is indegeneous
our so claimed indegenous ac has foreign component and steel used in that has origin of formulas from russia which we got on 1998

 

[surya kiran]

Yes, manufacturing is the base of a strong economy where every able bodied citizen produces something. However, from the very beginning Indians are more appreciative of their IT sector and less on their manufacturing sector.

Another point is India wants to become famous with cheap stunts. One is its love for IT only and the other is allowing its conglomerates to make too much profit in the domestic market, allowing them to cheat in paying corporate taxes, and finally allowing their money in dollar to take flight to western shores where an acquisition of a big name raises up the name of an Indian company as well as India itself.

Well, I think this foreign acquisition by paying in foreign currency is unwanted for a country where the basic needs of its own citizens remain unfulfilled. It brought only a temporary name value to India. However, the consequence has become such that BD currency may shortly become equivalent to Indian Rupee.

There are 2 parts to what you are pointing out. Part 1 where I tend to agree with the GoI and Part 2 where I do not.

Part 1 : Indian industry and its expansion is led by its private companies. These do not get govt backing for international ventures, except being part of commerce delegations abroad. How to run a business should not be the role of the government. Making regulations should be. Enforcing those regulations definitely. The point, about foreign acquisitions is less to do with 'name' and more to do with requirements and profits. So, on this point I will disagree that its about raising up the name of the Indian company. Concerning, the point about profit, it should not be the realm of the GoI to dictate what should be the level of profit. Instead, it should be able to mandate a minimum diversion to social causes. Thankfully, one of the good things this current GoI is doing is putting this mechanism in place. Now, a percentage of company profits will need to be diverted to CSR. Ofcourse, there are loop holes which can be exploited, but then it will get plugged.

Part 2
First, the point you made about IT. There is nothing wrong with that. Also, there are manufacturing companies in India. But, compared to the success of the IT sector, they are not in the limelight nor do they get the backing required. Also, setting up an economy where services play a mjor role requires a pre=requisite of a graduate work force. Here the problem is to do not with intent but the delivery capability of the GoI. Let us not get into comparative dollar values as a mechanism of strength and the BD to Dollar or vice versa.

 

[MM_Haider]

This is the best example of chinese IQ.

Indian Currency rate of change in past one month is more than 8%.. while Pakistani currency rate of change is around 2 %..

 

[senkakudefender]

Indian Currency rate of change in past one month is more than 8%.. while Pakistani currency rate of change is around 2 %..

1 USD = 107 PKR

1 USD = 63.20

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