Monday, August 19, 2013

random ramblings on 63Rs vs 1 Dollar

The blog is supposed to be a technical blog and has no relation with any kind of finance news etc,with hits around 53,000 as Google stats show I am happy
though tough economic scenario and debates on business channels motivated me to write down , Indian foreign exchange is depleting heard a few invested firms have asumed rupee will depreciate to 70 Rs ,today the cost of Rs is 63 rs. Economist are worried all over the world and govt is not able to understand what to do.If rupee falls below 85 rs then even govt may not be able to pay salary. Every 18 months Rupee is depreciating.Actually Manmohan Singh is aware of this economics so he tried for FDI in country. Dollar reserves are depleting fast many firms have assumed that rupee will fall out to 68 in next quarter. The discussion in parliament and media is going on-on scams where as the situation is both parties Bjp and Congress should sit down and think as how to handle the grim economic situation. The policies are such that in Chennai importing wheat from Sri Lanka or Myanmar is easier in comparison to import from Madhya Pradesh aur Bihar. I forgot the name of act in TamilNadu some one please remind me. The debate is going on in news channels on corruption it is important I do not deny that.Unfortunately wrong economic Policies are responsible for all this in past 20 years which has come forward in this way now.American economists can not do any thing magical to change the number if there has to be any change it has to come with laws within country and not RBI. Debate on news channels or parliament is happening political which should be economic and if in such a weak economic situation mein China or Pakistan attacks you only God knows who is going to help the nation. Open to discussion as how will this situation improve.

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