The Rupee plunged to Rs 46.00 to USD 1.00
With USD 140 Billion in reserves it is shame that the rupee is not appreciating.
We are funding the US economy, its current account deficit with interest free, tenure free, liability free, committment free money while we borrow at 6 to 10% rate of interest. India cannot afford this charity. We ourselves are starving paying high interest. Interest rates have gone up by atlest 1.5 % during the last 6 months.
The mandarins of the north block should atleast wakeup now and intervene in the forex markets using RBI to bring the Rupee value to atleat to Rs 35.00 to a USD.
Dhakshina Moorthy, K.M.
With USD 140 Billion in reserves it is shame that the rupee is not appreciating.
We are funding the US economy, its current account deficit with interest free, tenure free, liability free, committment free money while we borrow at 6 to 10% rate of interest. India cannot afford this charity. We ourselves are starving paying high interest. Interest rates have gone up by atlest 1.5 % during the last 6 months.
The mandarins of the north block should atleast wakeup now and intervene in the forex markets using RBI to bring the Rupee value to atleat to Rs 35.00 to a USD.
Dhakshina Moorthy, K.M.
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