Archive for October, 2008

The US $ at Rs. 43.50 by March 2009, would you believe this to be possible?

Tuesday, October 7th, 2008

One of the repercussions of the financial crisis in USA, was the outflow of billions of Dollars from India.  Large scale selling by Institutions, FIIs and repatriations put tremendous pressure, as a result while the Dollar depreciated against most currencies in the world,  the Rupee depreciated against the Dollar by nearly 10%, falling from Rs. 43/- to Rs. 47/-.

I believe the India Shining story is very much alive and while we cannot be isolated from global turmoil, corrective measures and the greed of Institutions worldwide to participate in the Indian growth story, will see inflows return slowly but steadily.  Your views on above.