I have been hearing about the market forces that control the Rupee value since long. And my observation is if the Rupee cannot improve even when the Oil and Gold, the two Forex outflow majors, tumble, the reason for the downfall of rupee is something else. The value of rupee is heavily manipulated by the bullion dealers to retain the rupee value of the domestic gold. The Mrrket and the RBI is fooling the public to save the Bullion dealers and the exporters to some extent and the entire mechanism of deciding the value of Rupee viz-a-viz Dollar has to be revamped.
