01-20-2009, 09:26 PM
Middle of last year it was 1USD = RS 41 but for last 2 months it came up. Even after 2 rescue to Indian Nationalized Banks, interest rate cut, dole to public, strike in oil sector, International funds disappreared from market, no new investment. Indian goverment lacks actual mechanism to calculate unemployment figures.
Either lazy babus are too slow to read figures, what should have done last month they will do after 2 months or Government is cooking books at higher level because of coming General Election.
Don't forget India's largest trading partner is UK and second is US, both are in tank. UK pound slipped to 1Pound = $1.39, last year it was $2.02 Euro is now $1.29
Yuan was under priced for long time, for them it is now adjustment, but it is still under priced. Indian Rs is a different story.
Who knows when RBI refused to answer whether they allowed Amar Singh to transfer $1-5 million to Clinton funds after N-deal and after it was visible Democrats will take White House.
Either lazy babus are too slow to read figures, what should have done last month they will do after 2 months or Government is cooking books at higher level because of coming General Election.
Don't forget India's largest trading partner is UK and second is US, both are in tank. UK pound slipped to 1Pound = $1.39, last year it was $2.02 Euro is now $1.29
Yuan was under priced for long time, for them it is now adjustment, but it is still under priced. Indian Rs is a different story.
Who knows when RBI refused to answer whether they allowed Amar Singh to transfer $1-5 million to Clinton funds after N-deal and after it was visible Democrats will take White House.