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  • Category: Miscellaneous

    Rupee value further dips as it reaches 70 against the dollar!

    As once I saw a hoarding of Kitply furniture as it tells that our furniture will last long until our rupee value equals to the dollar as if you see that advertiser got the very good common sense that he knows it will not possible at any point of time. I do not know how India become the Fifth largest economy in the world if the rupee value dips day by day. Is the economy speaks about the wealth of the country or what is definition of Economy here?. Knowledgeable members, please respond to the question.
  • #645434
    The largest economy may be defined as an entity where the savings and accumulation of money are high. After converting the total wealth available in the country either as gold or as dollars, maybe ours is in the fifth position basing on the quantity. If the dollar value goes on increasing with respect to rupee we may slip down to 6th position. This is a comparative list. The other country's currency may be having still a less value with respect to dollar value. So it a relative numbering and may be going on changing from time to time. It may climb up or come down.
    drrao
    always confident

  • #645436
    This really disturbing news for the country. When the country is celebrating 72 nd Independence day, our rupee has fallen to 70 against dollar and the situation has to be combated with corrective decision by the government.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #645439
    Currently, India replaces France in the 5th position as France currency is Euro we all know the Euro value will be never less than India's currency value.
    A blunt knife or rusted knife can't be useful for anything just for the sake we call it as the knife similar to PayTM series or Sachin or Virat records.

  • #645441
    Here, the economy means annual GDP in nominal terms. GDP is nothing but total value of all the goods and services that are produced in an year + (Exports - Imports). Nominal GDP will take into account the real value of products and not the inflationary value of products. India has crossed France as the 5th largest economy in nominal GDP terms. GDPs of all the countries are converted into dollar terms and ranked accordingly. Rupee depreciation will have some effect while calculating the GDP in dollar terms. If both Euro and Rupee are falling when compared to the US Dollar, then there won't be any problem in the rank list. But if Rupee depreciates and Euro appreciates when compared to the Dollar, then the rank list may change.

  • #645448
    Why is GDP given such importance as it shows the nominal effect of currency value? As there are countries which have the higher currency value may have less GDP? As a matter of fact, currency value is the only thing that determines the financial strength of the Country Until and Unless a country depreciates its own currency value like Japan.
    A blunt knife or rusted knife can't be useful for anything just for the sake we call it as the knife similar to PayTM series or Sachin or Virat records.

  • #645450
    There are many macro economic factors and situations in which the currencies of two countries stand in relation to each other.

    India may be improving in many areas and may be developing also with a good pace but it does not necessarily means that rupee will become strong. There are many other factors like import bill and balance of trade which also play an important role in deciding the currency conversions.

    Knowledge is power.

  • #645451
    Where 1 Euro =79.30 rupees(present Euro value) I think in near future or even a decade it will not equal to that. So I think these ranks are misleading us.
    A blunt knife or rusted knife can't be useful for anything just for the sake we call it as the knife similar to PayTM series or Sachin or Virat records.


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