rupees falling everyday, media failing to capture sentiments of common people.
This deserved to be discussed here, what you think when this trend end ?
will we ever see INR gain its value back and go in 62-64 ?
1 USD = 72+ Indian Rupee #AccheDin
- Thread starter Ramadhir Singh
- Start date
rupees falling everyday, media failing to capture sentiments of common people.
This deserved to be discussed here, what you think when this trend end ?
will we ever see INR gain its value back and go in 62-64 ?
6pack
ex-Mod
Already made a thread on this months back. Nothing's going to happen. India is a currency manipulator even worse than China. That money is falling to bring in cash for Infosys and other IT companies here. Just imagine some idiot in govt said to see rates of 75+ in coming months. Hell, I think they will make it 100 like Japan and sit tight there. No limits to greed here.
It's like cutting off the entire body for making a toe nail grow.
https://www.techenclave.com/community/threads/why-rbi-not-shoring-up-the-rupee.187557/
It's like cutting off the entire body for making a toe nail grow.
https://www.techenclave.com/community/threads/why-rbi-not-shoring-up-the-rupee.187557/
sorry i haven't seen that thread , possible to merge both ?
it's very sad to know.
I am delaying few tuition fees, waiting for the dollar rate to come down
paarkhi
Skilled
That's not going to happen in near futurewaiting for the dollar rate to come down
adventureguy
Skilled
can you explain further? Are you paying for tution in usa or india?sorry i haven't seen that thread , possible to merge both ?
it's very sad to know.
I am delaying few tuition fees, waiting for the dollar rate to come down
in usa, nothing related to India. Plus few membership/subscription like bcg, hbr, etc all i need to pay in USD. keep delaying it since 3-4 months.
India, post 2003-2004 , is just a country of frauds when it comes to education/ knowledge, one pay money and buy certificates to be part of the circle jerk.
Bumping the number of IIT wont increase the "quality" rather which are producing 93% educated donkeys which are not even remotely employable.
adventureguy
Skilled
Why not take a unsecured loan to pay tution in USA instead of sending money from here? iirc my friend had 20k $ unsecured loan from chase with zero hassles.
Good idea. let me check the possibilities.
N
NotMyRealName
if they came back India and have still money in US, this will indeed give them certain benefit. but in other way around it would be one of the most idiotic move if they do so. ( more taxes then the profit they make).
Also, market
Govt seeks immunity for new IL & FS bards today
And here is the new low, gained slight after petrol cost were reduced upto 5/- in some BJP ruled states.
Last edited:
N
NotMyRealName
Lol, RaGa's IL&FS joke was funny, "i love financial scams"...
Man the markets are dull already.
Immediate future looks scary.
Also be prepared for the inflation to go higher, elections are coming, all businesses will hike prices to make up for the election donations.
Immediate future looks scary.
Also be prepared for the inflation to go higher, elections are coming, all businesses will hike prices to make up for the election donations.
The entire world is likely headed for another 2008 like recession or something much worse. India is not an exception, just likely to be far worse of than other counties. Nothing at hand to weather the storm that is brewing.
Many small sized businesses already folded during demonetization. Business like manual Cashew processing which used to come to India is now going to other countries due to increased costs from affect of taxation changes.
Banking and NBFC's are in bad shape. Regardless of stock indexes, a big chunk of the small and mid cap companies have their stock values at rock bottom and still falling. Even large cap are in bad shape due to various reasons. Fuel prices at their worst and expected to get even more worse in November once the Iran sanctions begin. Prices could surge drastically due to shortages or even reach a stage where demand can no longer be met. This would have direct impact on prices of every thing.
The IT services sector which should bloom due to rupee devaluation is not faring well due to news of H1B and other changes. The IT job market in India is getting flooded by Indians returning to India due to H1B rejections. A colleague of mine was telling about some relatives of theirs. The girl has a H1B and the guy was working on H4. The girls H1B extension got rejected, so both lost their jobs and they were given 10 days notice to leave US. Due to the flooding of the job market, the salaries are also apparently going down drastically. Another colleague was telling me that IT services companies like TCS are offering packages of not more than 14-15 lac for somebody with 15-18 years of experience.
Many small sized businesses already folded during demonetization. Business like manual Cashew processing which used to come to India is now going to other countries due to increased costs from affect of taxation changes.
Banking and NBFC's are in bad shape. Regardless of stock indexes, a big chunk of the small and mid cap companies have their stock values at rock bottom and still falling. Even large cap are in bad shape due to various reasons. Fuel prices at their worst and expected to get even more worse in November once the Iran sanctions begin. Prices could surge drastically due to shortages or even reach a stage where demand can no longer be met. This would have direct impact on prices of every thing.
The IT services sector which should bloom due to rupee devaluation is not faring well due to news of H1B and other changes. The IT job market in India is getting flooded by Indians returning to India due to H1B rejections. A colleague of mine was telling about some relatives of theirs. The girl has a H1B and the guy was working on H4. The girls H1B extension got rejected, so both lost their jobs and they were given 10 days notice to leave US. Due to the flooding of the job market, the salaries are also apparently going down drastically. Another colleague was telling me that IT services companies like TCS are offering packages of not more than 14-15 lac for somebody with 15-18 years of experience.
No
As an NRI, I would never want to convert USD to INR for investment purposes. its a bad idea.
The market was overvalued and then trump tariffs and then fed interest rate hikes. first quarter of 2019 would be decisive. but, it seems indian fell due to liquidity problems which probably are a result of govt policies. but yeah, when US market falls, there will be a ripple effect in all the other markets.