Rupee hits all time low vs dollar

by nevada Tue Jun 11, 2013 1:12 am

58.65. Is 60 coming next? I am tempted to transfer some dollars to NRE account. Anyone else thinking about doing this?

by Merlot Daruwala Tue Jun 11, 2013 1:52 am

Desi Chatter is always right in the long term. That is, long after everyone has forgotten him and his predictions.

by Hellsangel Tue Jun 11, 2013 3:28 pm

nevada wrote:58.65. Is 60 coming next? I am tempted to transfer some dollars to NRE account. Anyone else thinking about doing this?

How will you transfer it back?

by nevada Tue Jun 11, 2013 4:05 pm

Hellsangel wrote:
nevada wrote:58.65. Is 60 coming next? I am tempted to transfer some dollars to NRE account. Anyone else thinking about doing this?

How will you transfer it back?

I don't know how but my Bank in India (Canara Bank) said you can transfer the money back. In fact, if the dollar loses value later, you will get more dollars when the rupees are converted back to dollars.

by Marathadi-Saamiyaar Tue Jun 11, 2013 5:03 pm

nevada wrote:
Hellsangel wrote:
nevada wrote:58.65. Is 60 coming next? I am tempted to transfer some dollars to NRE account. Anyone else thinking about doing this?

How will you transfer it back?

I don't know how but my Bank in India (Canara Bank) said you can transfer the money back. In fact, if the dollar loses value later, you will get more dollars when the rupees are converted back to dollars.

If the converse is true ?

by nevada Wed Jun 12, 2013 12:29 pm

Marathadi-Saamiyaar wrote:
nevada wrote:
Hellsangel wrote:
nevada wrote:58.65. Is 60 coming next? I am tempted to transfer some dollars to NRE account. Anyone else thinking about doing this?

How will you transfer it back?

I don't know how but my Bank in India (Canara Bank) said you can transfer the money back. In fact, if the dollar loses value later, you will get more dollars when the rupees are converted back to dollars.

If the converse is true ?

Yes, the risk of the rupee tanking further exists. That is the reason for the high interest rate paid by Indian banks.

by Hellsangel Wed Jun 12, 2013 12:44 pm

nevada wrote:
Marathadi-Saamiyaar wrote:
nevada wrote:
Hellsangel wrote:
nevada wrote:58.65. Is 60 coming next? I am tempted to transfer some dollars to NRE account. Anyone else thinking about doing this?

How will you transfer it back?

I don't know how but my Bank in India (Canara Bank) said you can transfer the money back. In fact, if the dollar loses value later, you will get more dollars when the rupees are converted back to dollars.

If the converse is true ?

Yes, the risk of the rupee tanking further exists. That is the reason for the high interest rate paid by Indian banks.

Going back to the earlier question, I thought the rupee was not so freely convertible and it is not so easy to transfer rupees back to dollars. So how does your bank suggest you do it?

by nevada Wed Jun 12, 2013 12:58 pm

Hellsangel wrote:
nevada wrote:
Marathadi-Saamiyaar wrote:
nevada wrote:
Hellsangel wrote:

How will you transfer it back?

I don't know how but my Bank in India (Canara Bank) said you can transfer the money back. In fact, if the dollar loses value later, you will get more dollars when the rupees are converted back to dollars.

If the converse is true ?

Yes, the risk of the rupee tanking further exists. That is the reason for the high interest rate paid by Indian banks.

Going back to the earlier question, I thought the rupee was not so freely convertible and it is not so easy to transfer rupees back to dollars. So how does your bank suggest you do it?

What my bank told me was that as long as I park the money in the NRE account and don't withdraw it, I have the option to convert it back to dollars later. I never tried to do it, so I don't know to what extent it is possible. Only Uppili can answer this question now Very Happy

by goodcitizn Wed Jun 12, 2013 1:01 pm

nevada wrote:
Hellsangel wrote:
nevada wrote:
Marathadi-Saamiyaar wrote:
nevada wrote:

I don't know how but my Bank in India (Canara Bank) said you can transfer the money back. In fact, if the dollar loses value later, you will get more dollars when the rupees are converted back to dollars.

If the converse is true ?

Yes, the risk of the rupee tanking further exists. That is the reason for the high interest rate paid by Indian banks.

Going back to the earlier question, I thought the rupee was not so freely convertible and it is not so easy to transfer rupees back to dollars. So how does your bank suggest you do it?

What my bank told me was that as long as I park the money in the NRE account and don't withdraw it, I have the option to convert it back to dollars later. I never tried to do it, so I don't know to what extent it is possible. Only Uppili can answer this question now

I use a Citibank account here and a Citibank NRE account in India. You can transfer money back and forth although I have only used it for spending money in India.

by nevada Thu Jun 20, 2013 12:38 am

60 is the new 50? Rupee hit all time low of 60 today. I transferred some money to India at 58.25. Damn, I should have waited a few days!

by Marathadi-Saamiyaar Thu Jun 20, 2013 1:05 am

nevada wrote:60 is the new 50? Rupee hit all time low of 60 today. I transferred some money to India at 58.25. Damn, I should have waited a few days!

Yes, the money in the NRE ccount can be freely converted at the CURRENT rate. The Indian currency GAINED substantially only once from Rs 50 in 2003 to all the way to Rs 41 or 42 in 2005 or 2007... ONCE. all other times, it has only lost its value steadily. So any money you put in, you are very likely to lose when you convert it.

If you want to make short term profit - significantly - then you need to deposit quit a bit of money. If you convert and bring back more than 10 K into US, the I R S will look at it and may dig deeper into your past.

So how much money are we talking here ? and calculate the pros and cons.

by goodcitizn Thu Jun 20, 2013 1:26 am

nevada wrote:60 is the new 50? Rupee hit all time low of 60 today. I transferred some money to India at 58.25. Damn, I should have waited a few days!

Don't feel bad. I converted $2000 @ Rs 53.25 in March, so life goes on.

by nevada Thu Jun 20, 2013 2:23 am

^^ That's true. Life goes on with ups and downs. No point in looking back and regretting past decisions.

by Captain Bhankas Mon Jul 08, 2013 1:42 am

61 and counting. i strongly condemn this dastardly act by the dollar.

by FluteHolder Mon Jul 08, 2013 1:46 am

Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

by Guest Mon Jul 08, 2013 5:09 am

Captain Bhankas wrote:61 and counting. i strongly condemn this dastardly act by the dollar.

hahahaha!
those responsible for this dastardly act will not be spared -- nitish kumar, CM, bihar.

by Captain Bhankas Mon Jul 08, 2013 6:21 am

i condemn the cowardly act of indian rupee. i will soon take a helicopter tour of the dalal street. - womanmohan singh.

by southindian Mon Jul 08, 2013 10:41 am

India trip $2.49

Coming soon...to a travel agent near you.

by Guest Mon Jul 08, 2013 10:46 am

FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

by confuzzled dude Mon Jul 08, 2013 11:15 am

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

by Hellsangel Mon Jul 08, 2013 11:17 am

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

Invest in what? CDs? Stock market? Gold?

by Propagandhi711 Mon Jul 08, 2013 11:30 am

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.

by Merlot Daruwala Mon Jul 08, 2013 11:57 am

nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

by Guest Mon Jul 08, 2013 12:08 pm

Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

by Guest Mon Jul 08, 2013 12:49 pm

Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

This reply voted *boring*. All info and advice given in one shot, *yawn*.

by Marathadi-Saamiyaar Mon Jul 08, 2013 12:56 pm

nenu wrote:
Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%... Razz

by Guest Mon Jul 08, 2013 12:57 pm

Vidya Bagchi wrote:
Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

This reply voted *boring*. All info and advice given in one shot, *yawn*.

Ya, it was so clear in the first shot. No cryptic reply. How is this forum going to survive like this? Razz

by Guest Mon Jul 08, 2013 12:59 pm

Marathadi-Saamiyaar wrote:
nenu wrote:
Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

by Guest Mon Jul 08, 2013 1:03 pm

nenu wrote:
Vidya Bagchi wrote:
Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

This reply voted *boring*. All info and advice given in one shot, *yawn*.

Ya, it was so clear in the first shot. No cryptic reply. How is this forum going to survive like this?

lol ya... no fun (read torture) here... he shoulda let you guess for yourself, or have fun discovering the pits and better courses of action yourself. Then if you requested for more into, shoulda let you fume, stomp, before daring you, then damning you, and eventually laughing at you. That's how we suchers role. MD is such a letdown. Very Happy

by southindian Mon Jul 08, 2013 1:22 pm

Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

Avivek, what if "Kinnu" or "Pravu" invest dollar at Rs61, get 8-9% interest in rupee and want to bring money back to US when rupee is 68 per dollar. You 8-9% interest gained is puufffff. Did you mention to "Kinnu" if rupee is repatriable to dollar then or suggesting to do a Hawala. Do you know NRE dollar account gives 2-3% interest?

by nevada Mon Jul 08, 2013 2:18 pm

nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:
Merlot Daruwala wrote:
nenu wrote:

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

That's what I am doing. But with the rupee tanking so bad, I don't know if I will break even or not. I was hoping the $ would stabilize around 55-57 but even 60 seems like a challenge now. But with the US banks paying practically nothing, I took the chance and put some money in India.

by Guest Mon Jul 08, 2013 2:23 pm

nevada wrote:
nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:
Merlot Daruwala wrote:

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

That's what I am doing. But with the rupee tanking so bad, I don't know if I will break even or not. I was hoping the $ would stabilize around 55-57 but even 60 seems like a challenge now. But with the US banks paying practically nothing, I took the chance and put some money in India.

Ya, i too want to give it a serious thought. I hope the rupee stabilizes soon and won't tank further after I convert. But then, that's the same kind of risk i have if i invest in the stock market here. Got to take the chance.

by confuzzled dude Mon Jul 08, 2013 2:41 pm

nenu wrote:
nevada wrote:

That's what I am doing. But with the rupee tanking so bad, I don't know if I will break even or not. I was hoping the $ would stabilize around 55-57 but even 60 seems like a challenge now. But with the US banks paying practically nothing, I took the chance and put some money in India.

Ya, i too want to give it a serious thought. I hope the rupee stabilizes soon and won't tank further after I convert. But then, that's the same kind of risk i have if i invest in the stock market here. Got to take the chance.

That 9% deal is only for NRO accounts, right?

by Guest Mon Jul 08, 2013 2:55 pm

confuzzled dude wrote:
nenu wrote:
nevada wrote:

That's what I am doing. But with the rupee tanking so bad, I don't know if I will break even or not. I was hoping the $ would stabilize around 55-57 but even 60 seems like a challenge now. But with the US banks paying practically nothing, I took the chance and put some money in India.

Ya, i too want to give it a serious thought. I hope the rupee stabilizes soon and won't tank further after I convert. But then, that's the same kind of risk i have if i invest in the stock market here. Got to take the chance.

That 9% deal is only for NRO accounts, right?

I don't know, but i do have some cash stashed away in the FD accounts in india (the money earned from the rentals there) and they give 8-9% interest on that.

by Marathadi-Saamiyaar Mon Jul 08, 2013 3:30 pm

nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:
Merlot Daruwala wrote:
nenu wrote:

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

Nope you cannot convert that money back into US dollars or foreign currency. Read what I wrote AGAIN.

by Guest Mon Jul 08, 2013 3:32 pm

Marathadi-Saamiyaar wrote:
nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:
Merlot Daruwala wrote:

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

Nope you cannot convert that money back into US dollars or foreign currency. Read what I wrote AGAIN.

by Marathadi-Saamiyaar Mon Jul 08, 2013 5:02 pm

nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

Nope you cannot convert that money back into US dollars or foreign currency. Read what I wrote AGAIN.

UNless you want to do it illeggally..

legally, you need to get the reserve Bank permit explaining what, which money and where it came from.

Besides, you will (soon) be asked to list ALL your financial accounts worldwide by the Desi Govt if you owned any NRE, NRI, or other stock accounts....

welcome to baboo's Bribery Palace

by confuzzled dude Mon Jul 08, 2013 5:39 pm

Marathadi-Saamiyaar wrote:
UNless you want to do it illeggally..

legally, you need to get the reserve Bank permit explaining what, which money and where it came from.

Besides, you will (soon) be asked to list ALL your financial accounts worldwide by the Desi Govt if you owned any NRE, NRI, or other stock accounts....

welcome to baboo's Bribery Palace

She should be able to bring 10,000 dollars (`6 lakhs) legally, right? pay a visit to India every year than paying taxes to uncle sam.

by Marathadi-Saamiyaar Mon Jul 08, 2013 6:55 pm

confuzzled dude wrote:
Marathadi-Saamiyaar wrote:
UNless you want to do it illeggally..

legally, you need to get the reserve Bank permit explaining what, which money and where it came from.

Besides, you will (soon) be asked to list ALL your financial accounts worldwide by the Desi Govt if you owned any NRE, NRI, or other stock accounts....

welcome to baboo's Bribery Palace

She should be able to bring 10,000 dollars (`6 lakhs) legally, right? pay a visit to India every year than paying taxes to uncle sam.

She can BRING IN upto 10K (including her gold chains she wears) per US Govt. Per Indian Govt, I suspect you are allowed to take out only what you too in on your travel. Even if it is upto 10K dollars she HAS to get it illegally from hawala traders. If you go to bank, you will need papers and entryt into the passport.

by confuzzled dude Mon Jul 08, 2013 7:49 pm

Marathadi-Saamiyaar wrote:
She can BRING IN upto 10K (including her gold chains she wears) per US Govt. Per Indian Govt, I suspect you are allowed to take out only what you too in on your travel. Even if it is upto 10K dollars she HAS to get it illegally from hawala traders. If you go to bank, you will need papers and entryt into the passport.

What kind of Indian are you Razz

by Merlot Daruwala Tue Jul 09, 2013 1:11 am

Vidya Bagchi wrote:
Merlot Daruwala wrote:
nenu wrote:
FluteHolder wrote:Good for me to xfer few less $. Bought gold when it hit the recent low. Women and gold shopping... 5+ hours for few pieces of gold....

Converting the dollars to rupees and buying gold in india with that money seems like a good investment.

No Kinny, gold which is imported into India becomes costlier, corresponding to the fall of the rupee, so you would be no better off than simply buying gold in the US. Your best bet is to convert the dollars to rupees, put it in a FD and earn 8-9% interest on it in India.

This reply voted *boring*. All info and advice given in one shot, *yawn*.

Yeah, I actually felt very odd writing this post, and you caught it. Had it been TBT / Avivek, I could have been my usual sarcastic self.

by Merlot Daruwala Fri Jul 19, 2013 5:23 am

nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:
Marathadi-Saamiyaar wrote:
nenu wrote:

oh! thanks for the info, md.

Here is a little tidbit the Maulana forgot to say. The Rupee insterest you earn is only good for you and your family to use in India.

You cannot convert it back into Dollars.

If you want to be able to convert it back, then it is an NRE account which earns some 2 to 4%...

Why not have it in the FD, earn 8-9% and then withdraw and convert on our own if we want to get it to US? Bad deal?

Nope you cannot convert that money back into US dollars or foreign currency. Read what I wrote AGAIN.

Kinny, ignore Upps Aunty. You can earn 8-9% for whatever period you like and then freely repatriate the principal and the interest from an NRE account. RBI says so.

by Captain Bhankas Fri Aug 16, 2013 4:14 am

congrats rupee! congrats sonia! shabash chidu! singh is king!

Rupee hits all time low vs dollar Manjul_Cartoon_270613pol_rupee_dollar

by nevada Fri Aug 16, 2013 1:32 pm

At this rate a slow, steady grind down to 65 and then 70 doesn't seem impossible.

by rawemotions Sat Aug 17, 2013 2:10 pm

nevada wrote:At this rate a slow, steady grind down to 65 and then 70 doesn't seem impossible.

Why is the rupee really going down? Why does India have a bear market when the world markets are at an all time high. This article gives a good view.

http://www.firstpost.com/economy/sonianomics-is-to-blame-for-rupee-sensex-crashes-1040365.html

by Marathadi-Saamiyaar Sat Aug 17, 2013 3:12 pm

Merlot Daruwala wrote:

Kinny, ignore Upps Aunty. You can earn 8-9% for whatever period you like and then freely repatriate the principal and the interest from an NRE account. RBI says so.

Just stick to your specialty - of Merlotizing India... Razz

by Captain Bhankas Tue Aug 27, 2013 5:02 am

there is no stopping to this decline. 66 now. 70 isn't far.

by truthbetold Tue Aug 27, 2013 5:16 am

I heard 72 to 75 as the current estimated Max for rupee vs dollar.
Indians must curb use of autos to absolute min. Litter should go to 120 or more.
diesel subsidy must be cut to zero.
More importantly take the penaway from election ready Congress to limit subsidies. Yes. It is too late with food security bill. It is the biggest govt vote buying scheme ever in india that will be crushing economic growth. The good news is that congress will slowly push it underground after elections.
this is a slow moving train wreck that the world can learn from.

by harharmahadev Tue Aug 27, 2013 9:47 am

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>....

by Vakavaka Pakapaka Tue Aug 27, 2013 10:16 am

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.

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