Rupee is SINKING!

[ajay124]

On January 8, 2008 the Sensex hit a high of 20,873. The dollar was worth 39.27 to the rupee. At its current level the Sensex is down 11% from that point of time. But the rupee has lost almost 64% of its value against the dollar. In absolute terms, the Sensex value adjusted for the rupees fall is now below 6,000.

The decline is probably not over. Crude oil is once again heading for 150$ a barrel. India is a heavy importer of crude for which it first has to buy dollars. Heads I win, tails you lose.

What can an average, helpless audiophile do in such circumstances?

Make do with less. Get used to the new reality. The bubble has well and truly burst. Especially the real estate bubble. The honeymoon lasted from 1992-2007. But now it is OVER. Perhaps for good.

 

[nagurum1974]

Today seems very in the dollar dip.crossed 68. worried about our economy.as a indian citizen can we do anything in thiz matter to avoid further?

 

[Shivam]

Today seems very in the dollar dip.crossed 68. worried about our economy.as a indian citizen can we do anything in thiz matter to avoid further?

Do you mean apart from throwing the government out in the coming elections ?

To quote from an earlier post -
'As consumers, we should prefer Indian products over others. Use less of imported resources and products (including fuels). Create a clean and positive environment so that foreign nationals will feel happy and safe to visit India. '
These are a few small measures.

 

[Santy]

The only time the Indian rupee goes up is during a toss.

 

[techboy]

You guys keep saying avoid foreign goods and only buy Indian goods.

1. Then why do you buy international speakers and amps?

2. If you genuinely believe that one should only buy Indian goods then why do you care about the dollar. Whether it is rs75 or rs750. In an isolated economy you will only gain if you export since you don't consume stuff from others.

Think about it

 

[virajsingh]

The other day someone joked that the New RBI Governor has asked for his salary to be paid in US Dollars ....I hope this is indeed a joke as otherwise you know what to expect....

 

[ghatgepatil]

Pink slips are slowly gaining ground of late. Reports of them being handed down aplenty in 'stable' organisations such as L&T - Calcutta operations, Alstom - Baroda, Network 18 (300 staffers asked to go recently) ....

Rupee weakness, high inflation, no new business on the anvil, no liquidity resulting in delayed or no payments. Where would the companies generate funds to pay even salaries, let alone vendors/suppliers? :sad:

And look at the fortunate many of us here ....

 

[techboy]

No matter what rs is valued at doesnt really stop companies from generating business. At least not those companies like Infosys and MNCs too who have overseas clients and local labor. It is the time of their lives for them.

 

[JasonX]

After Fed's announcement, Rupees Surged ! hyeah: Hope we will see Rupee in 50-55 Dollar / 85-90 GBP range in upcoming months !