The new Reserve Bank governor Raghuram Rajan ,announced a spate of measures to defend the rupee and stock markets and the INR is expected to open with a strong gain . The value of INR declining to 20 percent has made it the worst performing currency in the continent with a fear to provoke inflation.
Likely that by the end of the month Rupee may go down to as low as 70 to USD . Meanwhile, INR crossed 65 mark and Finance Minister , P Chidambaram still assured there is no reason for unwarranted pessimism and that rupee is undervalued and has overshot the appropriate level. 🙂
Aal ij Well !! Aal ij Well !! 😉
Union Finance Minister is asking people not to worry over rupee’s constant fall. With INR breaking its all time low every other day, the investors, both foreign and domestic are scared to put money in Indian markets.Someone can you please trust P Chidambaram Saab. 😉 All is Well.. All is Well !! 😀
Rupee(INR) on Tuesday slumped to record low of 60.75 versus dollar.
Ho Raha Bharat Nirman ?? 🙁
26th June is the scheduled date for Pranab Mukherjee to resign from Finance Ministry. At a time when our economy is in a shaky state and INR is unstable and has reached its lowest all-time value of 57 , who would be handed over the responsibility ?
While the Finance Minister is about to quit on the 26th of the month and is busy collecting votes for his Presidential Poll, INR continues to fall against the US dollars to cross the all time low of Rs 57 !
Follow News Article on why is the Rupee at a Free-Fall