Thread: The falling rupee (inr)

The rupee closed at a two-year low of the 46-level against the US dollar despite intervention from the Reserve Bank of India (RBI). The rupee ended at 46.06/08, much weaker than Friday?s close of 45.75/76 with bankers forecasting that the bottom was still to be reached

It seem there is a lot of dollar demand and high-risk aversion with dollar outflow from equities. All this points to a weaker rupee in the 46.547 region for the next few days.

Anyways a good news for many persons who gets their paycheck from abroad (in USD)...

Bbye

Date 09/21/08 time 6.31 pm

Hi All,
true that the rupee will be under severe pressure in the coming fortnight. The rally around will be a good time to liquidate for those who r starved for dollars, we all the old adage the road to heaven is paved with good intentions, in the market place it can be slightly twisted tomean with good indentations, this fall has just been that a good indentation which is going to make life very difficult for those invested here in india.
A few pay checks apart what is truly worrying is that it deepens the crisis in the internal financial structure of our fisc.
It will be very hard when the true impact of thsi fall will be felt in the last quarter of this financial year.