Rupee crashes to life-time low of 69.12 against US Dollar

[Viny]

If I am wrong plz tell me how is this happening?

https://defence.pk/pdf/threads/rbi-...assets-decline-19-billion-in-3-months.570883/

India just lost $19 billion in foreign reserves in 3 months oh bad man Modi is depleting reserves just to save his political image. This will hurt really bad to Indian economy. He should let the rupee devalue let the world see the true state of Indian economy and resign instead of doing more damage to the country. Situation is getting worse day by day.

India had 422Bn on 1st April and and 406Bn on 30July, you can get weekly reports from RBI here
https://www.rbi.org.in/SCRIPTS/WSSViewDetail.aspx?TYPE=Section&PARAM1=2

Yes to you it might look scary because thats quite more than your total reserves but for india its around 4% less.
Thats nothing because its a general trend to have fluctuation of 5-8% across the year

Oh during the same period Chinese forex reserve went down by 50bn$, so going by your logic china's doom day is also very very near.

 

[BHarwana]

India had 422Bn on 1st April and and 406Bn on 30July, you can get weekly reports from RBI here
https://www.rbi.org.in/SCRIPTS/WSSViewDetail.aspx?TYPE=Section&PARAM1=2

Yes to you it might look scary because thats quite more than your total reserves but for india its around 4% less.
Thats nothing because its a general trend to have fluctuation of 5-8% across the year

Oh during the same period Chinese forex reserve went down by 50bn$, so going by your logic china's doom day is also very very near.

Lol giving me example of china lol. India is no where near China.

Foreign reserves 400
Foreign debt 530
Foreign reserve depletion 72
Sad state of affairs.
The debt rating issued for indian economy is also not good.It has turned to worse.

India will have to borrow $150 billion just stay moving.

Rupee real time value declining sad state of affairs for India.

 

[Viny]

Lol giving me example of china lol. India is no where near China.

Foreign reserves 400
Foreign debt 530
Foreign reserve depletion 72
Sad state of affairs.
The debt rating issued for indian economy is also not good.It has turned to worse.

India will have to borrow $150 billion just stay moving.

Rupee real time value declining sad state of affairs for India.

Lolz, you need to improve your maths and economics skills considerably.

India's all time high for Forex Reserve has been 426bn
On 1 Jan 2018 our Forex reserve was 404bn
On 20 July 2018 our Forex reserve was 406bn
Still net positive by 2bn
That to after clearing away payments of Iranian Oil of over 6bn$

Can you explain me you calculation of forex reserve depletion of 72bn from where you got this figure?

Now let me give you some more details about foreign debt. Most of it was owed by private businesses which borrowed at attractive rates from foreign lenders. Approx, 78.8% of the total external debt ($404.5 billion) is owed by non-governmental entities like private companies.

Moving forward out of India total debt, only 43% is in USD and 37.3% is in INR

Can you also explain me the rational behind $150bn borrowing to just stay moving?
Thats like asking for 40% when your net burn is still in positive. What economics is behind that?

 

[Crixus]

Such threads should be under stupid and funny what you say @BHarwana Sir ... and how dare you to ask some logical questions

Lolz, you need to improve your maths and economics skills considerably.

India's all time high for Forex Reserve has been 426bn
On 1 Jan 2018 our Forex reserve was 404bn
On 20 July 2018 our Forex reserve was 406bn
Still net positive by 2bn
That to after clearing away payments of Iranian Oil of over 6bn$

Can you explain me you calculation of forex reserve depletion of 72bn from where you got this figure?

Now let me give you some more details about foreign debt. Most of it was owed by private businesses which borrowed at attractive rates from foreign lenders. Approx, 78.8% of the total external debt ($404.5 billion) is owed by non-governmental entities like private companies.

Moving forward out of India total debt, only 43% is in USD and 37.3% is in INR

Can you also explain me the rational behind $150bn borrowing to just stay moving?
Thats like asking for 40% when your net burn is still in positive. What economics is behind that?

 

[BHarwana]

https://twitter.com/x/status/1025259022331535360

 

[kris]

What if it doesn’t happen?

Start another thread with another date.... As simple as that

 

[Yongpeng Sun-Tastaufen]

https://twitter.com/x/status/1025259022331535360

Bad for buying F-16. Indians will have to pay a lot more rupees to buy F-16 in USD.

 

[Skull and Bones]

Bad for buying F-16. Indians will have to pay a lot more rupees to buy F-16 in USD.

Digital economy and currency values doesn't have any apparent value.

 

[Nilgiri]

Bad for buying F-16. Indians will have to pay a lot more rupees to buy F-16 in USD.

Lol ignore the fortune teller here, he is not exactly impartial. I love that he puts concrete time stamps on his predictions too, making it easy to crush when they lapse.

The fundamentals are looking quite strong:

https://economictimes.indiatimes.co...anies-at-5-year-high/articleshow/65251598.cms

https://www.bloombergquint.com/glob...-fastest-pace-in-nearly-two-years-in-july.amp

https://timesofindia.indiatimes.com...-says-morgan-stanley/articleshow/65239694.cms

Structural reforms done under Modi:

http://www.opindia.com/2018/08/modi...-the-doctor-ordered-tough-structural-reforms/

 

[CrazyEagle9]

They are forced to refer to the International Monetary Fund (IMF) as soon as September this year to seek a bailout to the tune of upwards of $15 billion.

This would be nearly double the amount of the last bailout package the country was on a few years ago.

The reason we are going on an IMF programme again is because our economy is not doing well enough due to our last finance minister bungling Pakistan’s fiscal and monetary policies.

So, even though the mess was created by the last government, the Pakistan Tehreek-i-Insaf (PTI) — along with its coalition partners — will be expected to address it immediately.

It will not be easy; going on the programme will require cutting subsidies on power and petroleum products, inadvertently increasing inflation.

Add to that the predicted rupee devaluation to at least Rs150 to $1, and the common person will be bearing the brunt of it all.

https://www.dawn.com/news/1424709/puranay-problems-that-naya-pakistan-has-to-deal-with

First worry about your condition. You need 15 bill. USD in Sept. and your own people predicting 150 PKR against 1 USD very soon. It is called bail out package for a reason, you know, bailing out .... saving your *** from being declared as a defaulter.

If I were you I would suggest fellow countrymen to keep stock of petroleum and inverters, instead of worrying for Indian people and suggesting them to stock dollars.

Just side note as fun fact: Apple alone is more than 3 times more valuable than your whole country.

https://twitter.com/x/status/1025259022331535360

He he..he.. you are posting 1-week low tweet. Every currency has some low and high point in a week. It's not like it is all time high or all time low.

 

[BHarwana]

Indian rupee continue to fell in its real-time value with Indian govt giving it artificial support at the cost of its foreign reserves this is a real sad state of Indian economy.

$950 million are the latest depletion of Indian foreign reserves to make rupee hold ground against dollar. Indian economy is slowing down.

 

[HariSinghNalwa]

Usd to pkr hit 124 mark , i advise you to buy dollars

 

[my2cents]

Rupee depreciates every year around this time for a large number of Indians families buy forex to send their kids abroad for studies.

Very True! I am sending my boy to US to do his BS. Few of my cousins are sending their kids for their higher studies in US.

 

[The BrOkEn HeArT]

@BHarwana

 

[BHarwana]

If Indian rupee remains at current price the Indian foreign reserves will deplete to keep it up this is sad situation. India is losing billion of dollars just to keep rupee in power. This show bad state of Indian economy.