Rupee hits all time low vs dollar

Vakavaka Pakapaka wrote:CONmen are destroying India's economy with their entitlement and voter-appeasement programs. Kiran Muzumdar Shaw was all upset yesterday when she was talking about the food security bill. Sinha of BJP also said that the economy will be ruined by the food security bull (he was opposing his own party's support for the bill). While communist China is implementing merit-based policies in education, work and employment, India is deliberately turning her back on progressive ways and shooting herself on the foot.

harharmahadev wrote:

Propagandhi711 wrote:

confuzzled dude wrote:So.. does this encourage NRIs to invest in India, and the ones who invested a few years ago are screwed!

INR lost 30% value in 2+ yrs. if you invested your money there two years ago, you should have made more than that. ofcourse if you had invested those monies instead in US large cap index, you'd have made about 60% more with inflation at <3% so all things considered your statement is right. however it's hard to time these things and you could have invested in gold believing the world is coming to an end and still ended up at same place.

speaking of goldbugs where's that goofball predicting huge increases in gold prices? I just checked his strong reco of a gold miner (novagold) and noticed that it lost 80% of its value since his recommendation.

I believe you were referring to me in the above post.

I agree with you that NG lost a ton of value since I recommended it.  As a disclaimer, I had invested in it before recommending.  I put my money where my mouth is.

I did a lot of "soul searching" for mining companies, to understand the fundamentals and how "risk-qualified" they are (the ability to withstand market shocks).  Several things have rattled to gold miners - dramatic fall in gold prices, which may have been a result of pull back in speculative trading as a result of fed cutting down on the stimulus program.  When gold falls, miners take it on the chin.  When gold collapses, miners take it on their nuts.  Secondly, rising rates makes their liabilities go higher.  Because miners are highly leveraged.  Then you have the black swan events like India putting controls on gold imports.

So what's the state now?  I think miners are on the rebound.  Will gold hit new highs this year?  It's possible but not probable.  I think, the market will fall some (maybe to S&P 1550)...then there will be a melt-up, with S&P touching 2000.  Most of the gains might come from Tech Stocks.

So if I were to invest anywhere in the market today, I would focus on tech.  I'm mulling buying INTC.  hmm...<twiddling thumbs>....

goodcitizn wrote:Just as I feared the rupee has reached a new low: Rs68=$1, Gold is soaring already up over 5% today and Sensex is dropping and won't be long before it hits 17,000.

Meanwhile our politicians in Rajya Sabha have been busy reversing the Supreme Court ruling by amending the law to allow those in jail or those convicted to contest in elections. This is what happens when law-breakers become law-makers.

Captain Bhankas wrote:walmart is suing indian rupee for copying its slogan -

low prices evwwvvvrrRRRyydddDAy

goodcitizn wrote:Just as I feared the rupee has reached a new low: Rs68=$1, Gold is soaring already up over 5% today and Sensex is dropping and won't be long before it hits 17,000.

Meanwhile our politicians in Rajya Sabha have been busy reversing the Supreme Court ruling by amending the law to allow those in jail or those convicted to contest in elections. This is what happens when law-breakers become law-makers.

southindian wrote:

goodcitizn wrote:Just as I feared the rupee has reached a new low: Rs68=$1, Gold is soaring already up over 5% today and Sensex is dropping and won't be long before it hits 17,000.

Meanwhile our politicians in Rajya Sabha have been busy reversing the Supreme Court ruling by amending the law to allow those in jail or those convicted to contest in elections. This is what happens when law-breakers become law-makers.

GC, I feel sorry for people here, supporting UPA and political parties supporting UPA to stay in power. I just don't understand relevance of their support.

goodcitizn wrote:
GC, I feel sorry for people here, supporting UPA and political parties supporting UPA to stay in power. I just don't understand relevance of their support.

b_A wrote:mahendra says rupee will go to 71.5 by Sept 4 and then it will bounce big.
Anybody knows an instrument other than FX to trade ?

indophile wrote:A funny comment on the Indian rupee on another board.

Pakistan has stopped printing Indian Rupee notes (jaali notes)! Cost of production jyada pad raha hai, jab original hi itna sasta milraha hai tou! (cost of production has gone up, can't breakeven when the original is so cheap).