Are we ready? No. We still have the mindset of colonial days. We still take *pride* in being developing country.
It is a welcome development. It would present short-term problems for exporters. But would improve quality of life for all Indians in the long run. Get ready for confusion in market for short term.
On the other hand, I believe that 10% drop has happened because more of weak US Dollar than strong rupee.
Rupee would be universally acceptable currency after the demise of US Dollar, hopefully.
