RE:Depegging from dollar urgently reqd
by rakesh dikshit on Apr 21, 2008 07:18 PM
Look it from USA's point of view. Bush has depreciated the greenback and in turn has exported inflation to the economies who are keeping their currencies pegged to a particular level. India (at Rs 40 per USD) and China (At 7.002 per USD) are trying hard to protect their exports. However in its short sigted policy - Indians are paying a highre crude import bill (in rupees) and thereby allowing the public sector to ian increased subsidy for the oil marketing companies.