Rupee slides to new low of 58.15 against dollar

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Re: Rupee slides to new low of 58.15 against dollar

#1 Postby Kalpit » Tue Jun 11, 2013 7:57 pm

This is a very worrying factor for India. Reason just one our import of oil will finish all the advantage of export earnings. Our currency should be on strong footing only then India can grow..

We are real down today. Let us hope the politics of India mature to that level where they see that they have to thing for India and India only

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Rupee slides to new low of 58.15 against dollar

#2 Postby Shivani » Tue Jun 11, 2013 12:30 pm

On monday rupee closed at a lifetime low of 58.15..From the beginning of May only the currency has lost its value at the most, now rupee is the weakest currency in Asia and the main reason behind this is the heavy selling of debt by foreign investors.But if the same thing continues in the near future then the situations could be worse from bad..

This news is bad for all industries but it mainly hampers oil,gas,metal,power & FMCG..India imports oil in huge quantity from abroad and if the value of our currency will continuously go down, it will definitely result in a price hike of petrol & diesel.The dependance of these industries on imported commodities and technology will make increase operating costs thereby reducing the profit margins.

In the recent developments the GDP has gone down surprisingly..the Indian economy has seen Slowest Sales Growth in 14 Quarters so at this point of time the conditions like this is not at all good for Indians as well as India..

Whats your opinion about this..Share your comments & suggestions..

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