If I remember correctly in 2011, it was $1 = Rs 46 and today $1 = Rs 72 This month, it showed Argentina currency (pesa) collpased -30% against US Dollar. India has all the signs of high inflation. Is Indian rupee next for the collapse ?
I wonder how is its day range. seems like quite a few exchanges offer Indian Rupee trading including Dubai Gold and Commidities exchange, Singapore exchange, NSE National Stock Exchange of India.
Not an economist here so correct if wrong............the Indian CD rates have averaged around 6.5% on annual basis since 2011, so 8x6.5 gives 52%. Would that offset the depreciation of 70% by a little bit, leaving net depreciation by 18% or so.
Big and giant companies in India are closing down. Jet Airways, DLF, Yes bank (was worth Rs 40,000 crores) and many more. Many Indian billionaires are going to jail/prison for giant scams/frauds. Business group that has 5 to 6 big companies are closing down. Indian billionaire "Subroto Roy" scammed everybody by saying his Ambi valley is worth Rs 40,000 crores but buyers are not paying more than Rs 8000 crores. His creditors will get scammed of Rs 25,000 crores. All this has happened since 2011.
Yes, call that house cleaning as old frauds are now being peeled off the skin in the economy. However, sooner or later a fraud is caught anyways. India is very corrupt business environment. Lots of companies going under in India have cases of management looting from the company itself leaving little profits or income to pay off the debts. Jet Airways is one case where a bag of peanuts costing Rs. 10 was billed to the company at Rs. 100 because the supplier of peanuts was a company owned by a higher management person themselves.
46000 home buyers did not get apartments from Amrapali Group India when Indian star cricketer/former captain "Mahendra Singh Dhoni" was the brand ambassador from Amrapali Group. Dhoni appeared in advertisements for 5 years. https://indianexpress.com/article