Indian Rupee depreciation against Dollar

^^ I agree with your views on deregulation, subsidy rollback, etc. etc. - but all in the long term. Absolutely nothing can be (and should not be done) in a few weeks, or even months.

"Subsidy rollback"

x-posting..

Pranab approves changes in Food Bill

Top 50 companies in India have lost Rs 5300 crores in this financial year due to Forex loss.

Action to stem Re fall likely from Wednesday: Govt sources - CNBC-TV18 -

Yusuf this was what I was trying to find out regarding our Forex Reserves and the fall in Rupee.

Sob, the free fall in the currency will only exasperate the situation. Weaker currency will mean the external debt will only rise and so will the other import bills esp oil. There has to be a regulation of te currency when it's under a free fall. A 20% eexpreciation in currency within a short span of 2 months is unacceptable.

Reserve Bank of India (RBI) took a series of measures to improve the dollar supply as the rupee continued to weaken as concerns over a crisis in Europe deepened.

RBI steps in to boost $ inflow - The Times of India

Warning: Currency turmoil could cost India Inc Rs 33,000 crore | Firstpost

Rupee retreats from record low as traders cut long dollar positions | Firstpost

RBI seems to betting on inflows from NRIs to shore up the INR, but then this is hot money and with the recent track record of the Rupee not many would be enthused by this step.

The biggest silver lining what I can see is the drop in crude prices internationally. This will go a long way to help reduce our import bill.

Don't panic。 It ins't over yet。 Not till the fat lady sings。

Don't worry we will be fine......Fat lady has already started singing in China and all Fat ladies are onto China for singing......enjoy the flight of capital and manufacturing contracts coupled with Ghost towns LOL

HSBC says Rupee can plumb to 58 against Dollar - The Economic Times

Told 'ya

Business Line : Markets / Forex : Checking rupee fall: Govt, RBI cautious; keen to conserve forex reserves

The Dollar is problem itself, the USA print more money few years ago, this extra amount of money is regarded as hot money, went to many countries to generate profit. Indian bank has a high saving interest, some dollar come to your banks to enjoy this interest. Also many dollar came to China, because RMB must be revalued and they make money, but China bank interest low, at 2.5%, so the hot money went into real estate, now the real estate price very high, it’s time for the hot money to withdraw from China market with huge profits, but government put a lid on the real estate, no loans from bank, and many limitations to buy a house, now the prices are going down, still difficult to sell the apartments. The Chinese government revenue of this year is more than RMB10 trillion, but only RMB 7 trillion spent so far for this year, the central government just give a warning to their branches and locals that they should not squander the remaining RMB3.5 in the remaining month of the year.
You can see, the USA is the real trouble maker, they ask you to free the banking system and free your market, but they are better player, you are the loser. The USA hates China, because China prefers to play by its own way, the USA have many tricks, but China not fall in the trap.