Rupe at nore than 60 to a US Dollar is crushed,DELIBERATELY,for keeping the Fiscla deficit HIGH,misusing the so-called under-recoveris' claim by the OMCs.The whole thing is drama reminiscent of 1991.Both RBI governors were IMF-puppets.Both were UNDESERVEDLY made Heroes..Now that the RBI has stopped eyein India's "Temple-Gold',the main aim is,HIKING the prices of Diesel and LPG massively. ith the ppetrol price hiked more than 100% and other petroleum fuels too HUGELY,the under-recoveries have to be Zero.But the IMF-puppets want the Fiscal deficit to be kept HIGHER and HIGHER fpor ushering in anti-India and pro-MNC policices. A weak Ryupee will raise Inlfation,erode the wealth of Indians,and make India Inc having huge Forex Loans suffer losses. Rupee should be very strong against the US Dollar,at around 30 35 V The US Currency. Else Crude import Bill will shatter and bankrupt India
IF POLITICS TOUCHED THE DRASTIC CHANGES AT CONTINUE,REALY IT IS A GREAT PROBLEM FOR THE GENERAL CITIZENS. THE BUCK DOES NOT STOP. AND WHEN THE FEDERATIONS BEGIN TO PULL THE SIMPLEST OF TRICS,THE MINISTRY IS CAUGHT ON THE WRONG FOOT AND THE TEXT PRAYER IS ROBBED I AGAIN TELL ,WHEN SCIENCE MEETS WITH PHYLOGOPHY,THERE IS NO QUESTION ABOUT IT BUT WHEN POLICTS DON'T WANT TO MEET WITH ETHICS , THERE IS NO ANSWER ABOUT IT.AND NOW POLYTICS ALWAYS CHANGED HER PROFILE AND ALWAYS REFLECTED BY THE SOURCE.
During NDA, rupee went up from 42 to 44 in 6 years. During UPA, it went up from 44 to 62. IS this achievement because it came down from 68 to 52. And dont forget it is just assembly election time in 5 states. Trade analysis says it will go up again upto 65 after election in november. They have just controlled somehow until election results are out. More preparation is going on by digging forts and temples in search of gold.
The article demolishes the Opposition cry that the rupee fall was all Manmohan's and PC's fault , while the recovery is something that happened automatically and hence not worth commenting about.
Re: Opposition stumped !
by Girish K on Oct 19, 2013 02:57 AM
Wait, has the Rupee recovered to 50 per Dollar? No? Then what is this recovery we are talking? Going from 50 to 68 and coming back to 62 is recovery?
At least, the author admits that "External events, not domestic actions, played the decisive role".
I am unsure if the time to give credit to Poodle Singh and PC has come yet.
Re: Opposition stumped !
by kafir chronicles on Oct 19, 2013 02:59 AM
The fact that the Govt. allowed the Rupee to fall so much despite RBI's suggestions was absolute mismanagement by the Fin Min in the first place. There has been a lot of talk about OMC's routing their dollar demand to a minimum of 7-10 Indian Banks who in turn come to the market and bid for dollars which resulted in a 7-10 fold demand for dollar instead of its actual demand. This was curbed initially to check on who was speculating by telling OMC's to channel their dollar demand only through PSU banks like SBI and a couple more. But the speculation did not stop, so RBI got into a dollar swap agreement with Japan. RBI by opening a separate Dollar window for OMC's has killed the 10 fold speculation of actual dollar demand from the market. Now, Forex dealers and traders are swatting flies in their offices and they've been telling RBI to allow OMC's to return to the market but I don't see that happening anytime soon unless Chidambaram's son manages to arm twist Rajan. Given Rajan's uncompromising attitude when it comes to rupee and inflation, I don't see that happening anytime soon. If you notice, demand for Gold has also gone down drastically. Don't blame Opposition for this. The same steps could have been taken by March before the Fed announced about tapering. This is only a stop gap measure. If you noticed today, the rupee suddenly fell in afternoon trade when there was a rumor that RBI is closing its OMC dollar window.
Re: Opposition stumped !
by Abhishek Chaudhary on Oct 19, 2013 09:01 AM
During NDA, rupee went up from 42 to 44 in 6 years. During UPA, it went up from 44 to 62. IS this achievement because it came down from 68 to 52. And dont forget it is just assembly election time in 5 states. Trade analysis says it will go up again up to 65 after election in november. They have just controlled somehow until election results are out. More preparation is going on by digging forts and temples in search of gold.
