01 June 2012


Can't arrest rupee fall if driven by weak fundamentals: RBI

MUMBAI: The Reserve Bank of India cannot arrest the rupee's decline if it is caused by weak fundamentals or global factors but can only take more calibrated steps in the forex market in such a scenario, a top official said today.

"If the
rupee fall is due to fundamental weakness of the economy, or due to global factors, then the RBI cannot support it," RBI Deputy Governor K C Chakrabarty told reporters on the sidelines of an HR summit of the state-run banks here. The government must address trade deficit issues if the fall of the rupee is due to weak fundamentals, he added.

When the Rs symbol was created i had posted my comments on it but some of our Indian friends objected to my views but in retrospect i think i was right.Just by changing a symbol the value of that currency will not go up.After the introduction of that symbol rupee value is going down and down.The symbol is a poor copy of pound sterling and US dollar, look carefully.

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