All rhetoric by Finance Minister has gone ashtray. All effort by the
Reserve Bank of India has gone futile. The rupee hit its all time low. One kg
of poor man’s fish sardine costs Rs 100. How do the poor people in this country
sustain?
The Indian rupee hit record low and slipped the psychological resistance
level of 60 against a dollar, due to high month-end demands for the US currency
by importers. The partially convertible rupee slumped to 60.63 against a dollar
in Mumbai. And it is analysed that the Indian currency would weaken further and
may hit the 61-level soon.
If this trend continues the price of all essential commodities will shoot
up. The interesting point is that the
shares of the companies which produce consumer goods are at their bottom. The
present Finance Minister Chidambaram is unfit to the post. He should be replaced
by some other able person among Congress MPs. There will be no win in any
election if the ruling Congress is incapable of checking rupee fall and the elevation of commodity prices.
K A Solaman
2 comments:
This is due to the tricks of financial magnets. Like in wrestling they know how to avoid smearing of sand on their back. It is the people and their leaders who should retaliate with strong will boycotting fancy, un
necessary goods. A barter system should evolve.
Tricks are many dear Sir.
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