All this hype and hysteria seems to be ill-placed. True, a sudden re-adjustment of value will make the system unstable and serve heavy repercussions. But the current mood of the business community is to hinge the value to current value or above, rather than using the opportunity to re-adjust (though with adequate damping factor) to Rupees correct value.
But it is rather sad that we have to take someone else burden and keep the economy repressed, for a vague and flimsy excuse of our export margin decreasing. As pointed out by other posters, India's import quanta is way higher than export (exports = $102.7 billion ; imports = $149.2 billion : data from http://statisticsofindia.com/mambo/index.php?option=com_content&task=view&id=127&Itemid=71).
Lots of praises have been flaunted on the aggressive nature of our market. But fact of matter is we seems to have found a place right below the Damascus's sword, and fear prevents us to move to a safer place.
