Results 1 to 4 of 4

Thread: Droopy Rupee

  1. #1
    POTUS HOCUS
    david44's Avatar
    Join Date
    Aug 2011
    Last Online
    12-10-2019 @ 11:14 AM
    Location
    Inner Wrongholia
    Posts
    13,668

    Droopy Rupee

    How not to manage a competitive devaluation

    By Suvashree Choudhury and Douglas Busvine | MUMBAI/NEW DELHI
    The Indian rupee fell abruptly on Thursday after a television channel reported that the commerce ministry will propose a devaluation in the unit to promote dwindling exports, but trimmed losses after a finance ministry denial.

    The rupee INR=D2 weakened 0.28 percent to 67.0750 to the dollar before paring losses after the central bank stepped in to prevent a sharp fall. At 0540 GMT (01:40 a.m. EDT), it was trading at 66.9550, lower than Wednesday's close of 66.8875/8975.

    The finance ministry denied that the government was discussing a possible devaluation of the rupee, whose floating exchange rate is managed by the Reserve Bank of India.

    There was no truth to reports of a rupee devaluation, Shaktikanta Das, economic affairs secretary at the finance ministry was quoted by financial newswire Newsrise, a partner of Reuters, as saying.

    Das also said the rupee's value was determined by the market and that there was no plan to change policy on the currency's valuation.
    I used to have a job at a calendar factory.
    I got the sack because
    I took a couple of days off.

  2. #2
    Thailand Expat VocalNeal's Avatar
    Join Date
    Jul 2007
    Last Online
    Today @ 05:50 PM
    Location
    Bangkok
    Posts
    11,329
    Clever. Announces possible devaluation which actually causes said devaluation without any actual action being taken.

  3. #3
    POTUS HOCUS
    david44's Avatar
    Join Date
    Aug 2011
    Last Online
    12-10-2019 @ 11:14 AM
    Location
    Inner Wrongholia
    Posts
    13,668
    Quote Originally Posted by VocalNeal View Post
    Clever. Announces possible devaluation which actually causes said devaluation without any actual action being taken.
    There's no pullimg the wood over your guise

  4. #4
    Thailand Expat
    Join Date
    Jun 2014
    Last Online
    @
    Posts
    18,030
    It's all one mega-ruse.

    There isn't any true reflected wealth, less this make-believe ideal of comparative currency values.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •