The only reason rupee is rising today is because PC is forced to take hard decision regarding Inflation that too because congress ended up with bloody nose in recent elections due to price rise.
Had rupee not apreciated inflation level would be at about 8 % just about enough to throw congress out of power.
All the factors mentioned by our beloved writer were present for last 5 years... so why NOW !.
Our Foriegn currency reserves were not built in a day ! and everybody had seen the situation, request not to be so naive.
It happens in India buddy !.
Now for the biggest scam how many people would have made billions due to sudden appreciation in Rupee ! ?
Stakes in Foriegn Currency in biggest Gamble in the world. How many win the sweep stakes ? !
RE:HUMBUG
by Navneet Thakur on Jun 19, 2007 05:13 PM Permalink
Very right..because of this inflation. Wouldn't have inflation happened to this level, we would not have suffered wih the indian rupee appreciation to this level in a short span of time. This is the big concern for exporters as well for FDI's. How come in the article, he menioned that will help, where it has more negatives than possitives. But surely, it is for a shorter span of time and will see indian rupee depreciaing to few levels.
RE:HUMBUG
by shanthakumar rp on Jun 19, 2007 05:06 PM Permalink
Calling an article from Mr.Venkatesh who is an authority Humbug is ridiculous. Appreciation of Indian Currency is due to growing Indian and weakness in the US Economy.
