Wednesday, August 28, 2013

Indian Rupee (INR) vs Pakistan Rupee (PKR)

Forget USD, you will be surprised to see that Indian Rupee has weakened by more than 15% against Pakistan rupee in past 3 months. Three months back an Indian Rupee could fetch 1.85 PKR (Pakistani Rupee) while now as on 28th Aug it's fetching just 1.54.

Against Dhiram, INR has lost more than 50% since the start of this year when a dhiram was fetching INR 12, it now fetching whopping INR 18.50 today. Off-course INR is undervalued against major currencies and would correct in next 3 to 6 months but the policy inaction, corruption and taken for granted attitude of the current government is really making poor people of India pay the price. Politicians coffers are growing at a CAGR more than the inflation and GDP growth rate of India put together and individually they are hardly affected by any of these catastrophic events. 

I believe the current government is completely responsible for all the mess we are in. What do you think?

1 comment:

  1. NDA rule was the golden period of India... India is in terrible shape and the current govt does only cure and no prevention....


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