India back to 1991 as RBI imposes capital curbs to stabilize rupee

[ravishingravi]

We could see 70 in the next few days; what after that' date=' 75 ? 80 ?[/quote'] 70 is all but certain. Rupee is oversold now. It will correct, but at what stage.

[Laaloo]

Girl: Mere Birthday Par Mujhe Bahut Costly Gift Dena Boy: Ok.. . . . On The Birthday . . . Boy: Your Gift..! Girl: How Sweet Isme Kya Hai?? . . . Boy: Petrol Me Tale Hue Pyaaj Ke Pakode...!

[diga]

GDP growth at 4.4% from the 5.4% last year same quarter.. just six months back Chidambaram & Manmahon had promised a return to 8% growth in the budget speech

[ravishingravi]

Dollar power gets elderly NRI doctor 152 wannabe brides http://timesofindia.indiatimes.com/city/ahmedabad/Dollar-power-gets-elderly-NRI-doctor-152-wannabe-brides/articleshow/22173252.cms TOI

[Clarke]

Another possibility: Ban import of mobile phones :woot:

[Old guy]

Another possibility: Ban import of mobile phones :woot:

better ban re branding of chinese phone as indian ones

[The Outsider]

Great work by the government to drastically reduce the CAD and play a key role in reviving the Rupee. It is rising against other emerging market currencies as well, which is a very positive sign. Amusing to read some of the comments from resident economists of ICF.

[diga]

Great work by the government to drastically reduce the CAD and play a key role in reviving the Rupee. It is rising against other emerging market currencies as well, which is a very positive sign. Amusing to read some of the comments from resident economists of ICF.

yes.. you should also ask why wasnt it done in the first place? Done after growth slips & rupee hitting a high of 68 against the $

[ravishingravi]

Great work by the government to drastically reduce the CAD and play a key role in reviving the Rupee. It is rising against other emerging market currencies as well, which is a very positive sign. Amusing to read some of the comments from resident economists of ICF.

Congressi toh aakhir rang dikhayega hi. Or should I say, rang badlega hi :) Maybe if we spend a little less time reading ICF, we would also know what actual economist think. There is no denying the good work done by RBI and Congress govt. also in salvaging the situation. Ofcourse, it is also a fact that yoy deficit numbers are inflated given the restrictions on gold imports. It is also a fact that dollar inflows have largely been inflated with FCNRB swap window. FII flows in last 3 weeks is nothing but Modi wave and the pre-election money coming in expecting a stable govt under Modi. There has been no change in fundamentals. In fact, some of the domestic data has been below esp. IIP numbers. Ofcourse, it will alll crash if scenario changes. The rally is merely a drive to not lose on the opportunity. Maybe the scandinavian economist of our banker is an RSS guy, but he is talking about Re. ending up 57 if Modi comes to power with a stable govt. I hope RBI doesn't let the Re. appreciate too much and keep buying and regular dips. Then there are these extreme views :- http://timesofindia.indiatimes.com/home/specials/lok-sabha-elections-2014/news/Rupee-may-surge-35-to-40-per-dollar-if-Modi-becomes-Prime-Minister-Citigroups-Adam-Gilmour-says/articleshow/32319371.cms http://articles.economictimes.indiatimes.com/2014-03-20/news/48402056_1_rupee-jayesh-mehta-et-poll

[ravishingravi]

[CG]

Gold import curbs played a major role and expected bjp election victory has brought huge inflows last month contributing to rupee rise.

[ravishingravi]

The FII view

[Crookbond]

‘Elections will help India’s economy.’ Wrong, says Credit Suisse http://www.firstbiz.com/data/elections-will-help-indias-economy-wrong-says-credit-suisse-79638.html

[diga]

http://www.futurecurrencyforecast.com/pound-to-rupee-trims-gain-after-uk-sales-surge-inrusd-edges-away-from-8-month-high/25660

One of the main reasons for the Rupee’s recent bullish attitude is the expectation that the opposition Bharatiya Janata Party will win the upcoming Indian election and help India’s economic recovery gather steam.

[ravishingravi]

Re closes below 60. Reforms in China. Strengthening of emerging markets and possibly stable govt under Modi.

[ravishingravi]

‘Elections will help India’s economy.’ Wrong, says Credit Suisse http://www.firstbiz.com/data/elections-will-help-indias-economy-wrong-says-credit-suisse-79638.html

I agree with these views. Hot money flowing in will go out as swiftly. People are being overly optimistic about Modi govt.

[Texan]

It is very ironical that the man who used to be considered as the one who helped recover the economy from its lowest ebb in 1991 (though I would actually credit PVNR who was responsible for the bold steps and not MMS) is now responsible for this mess.

[Jersey #10]

Stop gold imports! It's useless.

[ravishingravi]

It is very ironical that the man who used to be considered as the one who helped recover the economy from its lowest ebb in 1991 (though I would actually credit PVNR who was responsible for the bold steps and not MMS) is now responsible for this mess.

From a good man he has turned into a good for nothing man - Arun Shourey

[ravishingravi]

Feeling I get is, 10 years of UPA,has made the NDA governance look much better than it was. Atleast as far as investor sentiments are concerned. People forget that NDA also had its fair share of problems. It is in hind sight that everyone sees the talent of ministers. But people forget that there were scams and likes pramod mahajan was generally considered compromised. People expect one man to control everything. From all accounts, he want to. But can he ? Or rather should he ? If Modi becomes the Pm of India, I definitely see huge influx of foreign capital in India. But I also see great disillusionment in the years to follow. India has some structural issues which cannot be solved overnight.