The rupee yet again fell against the dollar today, falling to as low as 55.07 to the dollar, tracking a weak euro ahead of the European Central Bank policy meeting.
According to some traders there was a major dollar demand from a large state-run bank as well, though no details for the demand were available..
http://profit.ndtv.com/News/Article/rupee-falls-1-at-55-07-to-us-dollar-307367?pfrom=home-otherstories
20 Replies
In the days to come I am expecting it to dip even lower. According to the market circle the fair current value of rupee should have been around Rs.60 but for spasmodic intervention by the RBI. The countries which are net exporters have no problems. In fact China,South Africa are all happy with devaluation of their currencies but it is hitting us very hard being a net importer!
In the days to come I am expecting it to dip even lower. According to the market circle the fair current value of rupee should have been around Rs.60 but for spasmodic intervention by the RBI. The countries which are net exporters have no problems. In fact China,South Africa are all happy with devaluation of their currencies but it is hitting us very hard being a net importer!
I guess we are going to see more down slide of the rupee in the coming weeks since dollar has become very strong against almost all currencies including Euro...
There is lot of uncertainty...I think crude prices are also increasing due to this... :unsure:
Cost of import of crude has gone up enormously with the falling rupee! It is a pity that when smaller economies produce trade surplus,we are perpetual laggards!
I think it is a lack of commitment to the nation by the concerned governmental departments, like all other issues action is taken after things have reached a boiling point, when it is doing too little too late !
There is lot of uncertainty...I think crude prices are also increasing due to this... :unsure:
Cost of import of crude has gone up enormously with the falling rupee! It is a pity that when smaller economies produce trade surplus,we are perpetual laggards!
I think it is a lack of commitment to the nation by the concerned governmental departments, like all other issues action is taken after things have reached a boiling point, when it is doing too little too late !
I agree, it is this policy of doing too little and too late that is damaging for our economy, even though the person who leads our country is an accomplished economic. :unsure:
I think the rupee fall will improve the economy of our country.
How? In what way ? what about imports and exports? we have to pay more everywhere..
True!! Bad decisions are also helping us in getting more deficits. Not sure if its related, but the decision to take back all those officials who caused Air India to lose more than 600 crores is an example of such poor policies!!
I think the rupee fall will improve the economy of our country.
How? In what way ? what about imports and exports? we have to pay more everywhere..
True!! Bad decisions are also helping us in getting more deficits. Not sure if its related, but the decision to take back all those officials who caused Air India to lose more than 600 crores is an example of such poor policies!!
In an economy I guess all financial issues get related in some way or the other especially at governmental levels. We are supposed to have the worlds best economists in our country but I doubt if they are being heard :huh:
I think the rupee fall will improve the economy of our country.
How? In what way ? what about imports and exports? we have to pay more everywhere..
True!! Bad decisions are also helping us in getting more deficits. Not sure if its related, but the decision to take back all those officials who caused Air India to lose more than 600 crores is an example of such poor policies!!
In an economy I guess all financial issues get related in some way or the other especially at governmental levels. We are supposed to have the worlds best economists in our country but I doubt if they are being heard :huh:
Probably, they are not making any efforts to be heard! At least the so-very -mellow and soft approach of Manmohan Singh on crucial issues suggests so.
I think the rupee fall will improve the economy of our country.
How? In what way ? what about imports and exports? we have to pay more everywhere..
Actually i read it little wrong.
Yes, if rupee will fall, price of products will increase.
Sorry.
Yes I too wondered :) With the rupee becoming weak, it hits us in every way !
Topic Author
U
usha manohar
@kiran8
Topic Stats
Created
Thursday, 05 July 2012 17:10
Last Updated
Tuesday, 30 November -0001 00:00
Replies
0
Views
2.1K
Likes
0