Rupee hits 60.92 per dollar, highest in over two months

[Truth Finder]

(Reuters) - The rupee extended its gains to the highest in more than two months on Friday, breaching the psychological 61 per dollar mark, as broad losses in the greenback versus major currencies and gains in the domestic share markets aided.

The partially convertible rupee was at 60.94/95 per dollar at 1008 IST (0438 GMT), after hitting 60.92, its strongest since August 18 and higher than its close of 61.23/24 on Thursday.

The index of the dollar against six major currencies was up 0.1 percent, while BSE Sensex was up 1.2 percent.

Rupee hits 60.92 per dollar, highest in over two months | Reuters

 

[Skull and Bones]

Dafuq, after i paid my fees.

 

[Imran Khan]

what will happen when $ will be no more international currency ? does it effect us or its good for us ?

 

[Srinivas]

Dafuq, after i paid my fees.

Some one did not believed my words when I said rupee depreciation is an engineered move by GOI .....

 

[Skull and Bones]

Some one did not believed my words when I said rupee depreciation is an engineered move by GOI .....

More like outflow of billions USD to the developing economies.

 

[kaykay]

Its getting better everyday now. Great.

 

[Srinivas]

More like outflow of billions USD to the developing economies.

Yes, and also election funds from overseas , I mean return of black money.

But I would like to see 1 $ = 70 rs and inflation under control.

 

[Truth Finder]

what will happen when $ will be no more international currency ? does it effect us or its good for us ?

1)Don't worry. It will take another 50 years to get Dollar replaced by any other currency.

2) The effect will be zilch.

 

[Badbadman]

Yes, and also election funds from overseas , I mean return of black money.

But I would like to see 1 $ = 70 rs and inflation under control.

why you want 1 $ to 70 rs

 

[Jackdaws]

what will happen when $ will be no more international currency ? does it effect us or its good for us ?

Well the American dollar is not an international currency - but the entire move to make the US Dollar the predominant currency for reserves was due to the end of World War II and the adoption of the Bretton Woods system. Before that, the major currency was the British Pound. In the foreseeable future - only the Euro has the power to replace the US Dollar as the preferred currency for reserves. It would be nice if Asian countries got together and floated an "Asio" as a counterweight. At least, that is my theory - but perhaps some economics student can shed light on it.

 

[Destro]

Some one did not believed my words when I said rupee depreciation is an engineered move by GOI .....

Wrong. Rupee depends on QE by the Fed. They didn't taper so India gets hot money inflows. Without that hot money, the Rupee is trash. The Rupee is fine as long as the Fed keeps QE going. The day they actually taper will be a nightmare for the Indian Rupee. The second the Fed said they might taper caused capital outflows and the Rupee crashed, but the second the Fed said they won't taper the Rupee had a sharp recovery.

Just proves without a shadow of a doubt that the Indian economy is a massive credit driven bubble waiting to burst. The fundamentals of the Indian economy are dreadful.

When your economic future depends on cheap money from the Fed, you know you're in massive trouble.

 

[Imran Khan]

1)Don't worry. It will take another 50 years to get Dollar replaced by any other currency.

2) The effect will be zilch.

dear i just wanna know impact on us

 

[Skull and Bones]

Yes, and also election funds from overseas , I mean return of black money.

But I would like to see 1 $ = 70 rs and inflation under control.

lol, for a nation having humongous trade deficiency and near zero industrial infrastructure, best of luck screwing up the nation.

 

[Truth Finder]

why you want 1 $ to 70 rs

That will be a blessing for exports and manufacturings.

dear i just wanna know impact on us

Define "us". Is it "USA" or "Pakistan"?

 

[Srinivas]

why you want 1 $ to 70 rs

Exports will give more profit margins, The labor costs in India will come down in dollars, when compared other countries.

Imports will become difficult and so people rely on local manufacturing.

This will reduce the trade deficit and improves much needed manufacturing infrastructure.

lol, for a nation having humongous trade deficiency and near zero industrial infrastructure, best of luck screwing up the nation.

When you are sure that Japanese and West are going to invest Billions in India, then devaluing the currency is a good move, China also did that in the last decade.

Wrong. Rupee depends on QE by the Fed. They didn't taper so India gets hot money inflows. Without that hot money, the Rupee is trash. The Rupee is fine as long as the Fed keeps QE going. The day they actually taper will be a nightmare for the Indian Rupee. The second the Fed said they might taper caused capital outflows and the Rupee crashed, but the second the Fed said they won't taper the Rupee had a sharp recovery.

Just proves without a shadow of a doubt that the Indian economy is a massive credit driven bubble waiting to burst. The fundamentals of the Indian economy are dreadful.

When your economic future depends on cheap money from the Fed, you know you're in massive trouble.

Don't try to teach economics, In politics every thing is possible when the right key is activated. Every thing and every body is a part of it