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