The rupee is getting weaker against the dollar and RBI did intervene in the market, Perhaps a better gauge would the tanking of the $INR from 54 to 61. I would attribute the wealth lost in that fall entirely to UPA & Pranab Da.
It is not end of the world or the INR. Just a part of the process by which markets discover price & force policy makers 2 revert 2 virtue.RBI should note that those Industrialists crying about the $INR are precisely those who add no local value but enjoy a protected market.
In the mean time just thought of sharing some basics from RBI : – Continue reading “How well you know about Money RBI : Central bank Termonologies”