Whoever is dumping rupees, please stop - right now
This is creating a major fluctuation in the currency markets, and causing a very delicate Nash equilibrium to shift in extremely unpredictable ways.Whatever you think this will achieve - it wont. Whatever model you are using to estimate your gains from this - I assure you - that model is crap.
All this will do is create yet another a major crisis that will rebound on everyone. The global financial system is very weak right now - and it will not withstand too many such shocks. There is enough pressure due to all the pipeline Jihads in the middle east and Lord knows there is way too much pressure on the coal side.
Messing around with a major currency now will make that entire business in 2008 will seem like a walk in the park.
Please stop - this is a very bad direction to take things in.
posted by maverick @ 8:39 PM
623 comments
