"We invented money and we use it, yet we cannot understand its laws or control its actions. It has a life of its own."
- Lionel Trilling, American literary critic.Who would know the fickle nature of money better than
Reserve Bank of India (RBI) Governor D Subbarao. As the
rupee went on a free fall in the last five months of 2011 - spooking businesses and investors alike and prompting the RBI to take measures to stem the slide - most people were left wondering what this ado was about.
Here's our attempt to understand why is money, or more importantly, its value, crucial for a country's nationals, both rich and poor. We bring to you how a falling rupee is impacting you as a consumer and an investor in our cover package.
Behind rupee's rise and fallThe currency in your wallet is always on the move. The value of a country's currency is linked with its economic conditions and policies.
Read more... Your budget at stakeFrom essentials such as food and education to foreign vacation and the swanky gadget you plan to buy, the falling rupee will hurt you in more ways than one.
Read more... Eye on the marketHere's how shares in rupee-sensitive sectors perform.
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Exporters face the heatThe recent weakening of the rupee has seen cotton exporters scurrying for 'cover' to meet the shipment schedule.
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Falling rupee good news for investorsA falling rupee is cushioning the impact of the dip in prices of global commodities, especially for investors who placed bets on commodities that are largely imported.
Read more...NRIs make gains too!It's a great time to be a non-resident Indian if you repatriate money to India or invest in the country. A weakening rupee means more value for every dollar NRIs send home.
Read more... Indian rupee's fall against dollar not uniqueWith the exception of the Japanese yen and the arguably undervalued Chinese renminbi, the dollar has appreciated against virtually every currency in the world.
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