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WTF !! Indian Rupee Collapses By Most In Over 20 Years !!

 
Anonymous Coward
User ID: 44925722
Mexico
08/28/2013 01:46 AM
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WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
[link to www.zerohedge.com]

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% of their global purchasing power since March 2013 (though those who swapped their paper wealth to gold have seen their purchasing power rise 6% in Rupee terms). With Gold in Rupees having broken to a new all-time high, it would seem the government has little choice but to lease its gold (no matter how vehemntly they deny the fact).
brado32003

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08/28/2013 01:48 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
bump
Sir Griffo
Sir Griffo

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08/28/2013 01:49 AM

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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
5*
Anonymous Coward (OP)
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08/28/2013 01:49 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
Indian ppl will be buying more gold and silver tomorrow !!

banana2banana2banana2rockon
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08/28/2013 01:53 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
Indian ppl will be buying more gold and silver tomorrow !!

banana2banana2banana2rockon
 Quoting: Anonymous Coward 44925722


Unless they bought already they'll be buying LESS

lmao
Anonymous Coward
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08/28/2013 01:54 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
Things like this lead to riots very quickly where millions (billions?) live below the poverty level scratching out a meagre existence. When food costs take up more than half your budget anyway and the currency suddenly collapses causing massive, rapid price spikes for commodities, people tend to get upset in a hurry, especially where there is no social safety net to soften the blow.
Anonymous Coward
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08/28/2013 01:55 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
Must be time for another gang rape

lolsign
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08/28/2013 02:03 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
Must be time for another gang rape

lolsign
 Quoting: Anonymous Coward 43887628


It's always gang rape o'clock somewhere in India.
An Ordinary Greek

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Greece
08/28/2013 02:54 AM
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Re: WTF !! Indian Rupee Collapses By Most In Over 20 Years !!
Rupee doing "69" with da dolla!!! lolsign

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