Falling Rupee. Falling every year since its inception!

This morning I was shocked to read news updates on my phone. Rupee was at its lowest at 64.15 Rs per Dollar. I decided to check the value of rupee in the past. Now I’m sure that by the time I retire, the Rupee would have crossed 200. Its losing exponentially over the years.

YEAR EXCHANGE RATE
(INR PER USD)
1913 0.08692307692
1925 0.10
1947 3.3
1949 4.76
1966 7.50
1975 10.409
1980 7.887
1985 12.369
1990 17.504
1995 32.427
2000 45.000
2006 48.336
2007 (Oct) 38.48
2008 (June) 42.51
2008 (October) 48.88
2009 (October) 46.37
2010 (January 22) 46.21
2011 (April) 44.17
2011 (September 21) 48.24
2011 (November 17) 55.3950
2012 (May 23) 56.25
2012 (June 22) 57.15
2013 (May 15) 54.73
2013 (June 12) 58.500
2013 (June 27) 60.73
2013 (Jul 08) 61.21
2013 (Aug 20) 64.15 (All time Low)

I still can’t believe we were doing better than dollar till the 1920s. There are a lot many economic and financial aspects involved in the lowering of rupee but this surely triggers an alarm.

Our imports have increased and our exports have declined. Reason? Importing a chair from Malaysia is cheaper than making one here. India used to be one of the leading textile exporters in the world. Now, big companies in the textile industry are turning towards Bangladesh for cheap labor and easier export laws. Even Indian companies are setting up textile units in Bangladesh and importing cotton from there. Same story with silk, spices, coal, machinery etc.

I was shocked to learn we import coal, while our coal reserves are being looted with ‘Coal-gate’ scam. We’re experts in corruption. We can scam anything from Defense to Cattle Feed. Do we have a solution for this? Would all these stop if we elect a different government next year? No. They’re all the same. Nobody cares for India. All they care about is getting the Iron Throne at the Parliament. They create riots, issues for the same. They demolish mosques and fight on Roads. They suspend IAS officers for trying to do their work. They talk, shout, tweet and convince people they’re good. They play with our emotions, our gods and religion and with our economy.

We have enough problems already. And we have newspapers and TVs that report more of Bollywood and cricket or about Britain’s royal baby more than these serious issues. Unstable government, Enemy firing at the borders, terror threats, Rapes, Children dying after mid day meals, falling rupee, Robert Vadra, Narendra Modi and Rahul Gandhi. Seriously? Don’t we have any other leaders?

With the lowering of rupee, Markets are going down causing a huge impact on our economy. Keeping our economy stable is very important.  This is not the time we blame each other and fight and tweet about it. We need to stand up for our country as one. Our country, Our responsibility.

Jai Hind!

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