//When asked about the range of the rupee, Axis Bank Managing Director and Chief Executive Shikha Sharma said it (54 to a dollar) is a "fair level."//
We need to have few heads examined LOL
Anybody to know little common sense would know what is the fair value of Rupee. Unless you increase interest rates by atleast 3 percent you cannot save Rupee from nosediving to 60+...
We need to have few heads examined LOL
Anybody to know little common sense would know what is the fair value of Rupee. Unless you increase interest rates by atleast 3 percent you cannot save Rupee from nosediving to 60+...
The same guys vehemently argued for interest rate cut and got it. Sadly enough they did not pass on it to customers. Now they are telling Rupee value is fair enough.
I wonder what they are going to say their balance sheets when RE crashes?
If you are working in Banking Industry (as per your profile) I really salute your views.
ReplyDeleteBankers & Politicians world over are fooling unaware people. Even most educated people who are not necessarily Financially literate don't understand the real facts about Rupee & why it is happening.
See the US where Greedy Bankers plummeted the Interest Rate all the way to o.25% and looted the saves all the way. Ultimately it's a war between Debtors & Savers. Unfortunately history tells us that Debtors are always winner.
So in future India's Interest Policy will follow the US.