Indian Rupee Collapses By Most In Over 20 Years

IndianRupeeCollapsesByMostInOver 20 Years
http://feedly.com/k/17ePomE

From a weak open, the Indian Rupee has now plunged a stunning 3.88% today. This is the largest single-day drop in the Rupee’s value since March 1993. The Indian people have lost 30% oftheir global purchasingpowersinceJanuary 2013 (thoughthosewhoswappedtheirpaperwealthtogoldhaveseentheirpurchasingpowerrise 6% inRupeeterms). With Gold in Rupees about to break its all-time high, it would seem the government has littlechoicebuttoleaseitsgold (no matterhowmuchtheyexclaimthatisnottrue).

shared via http://feedly.com