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Pessimism surrounding the Indian rupee is unwarranted

Filed on November 11, 2019 | Last updated on November 11, 2019 at 10.00 pm

The news suggesting Indian rupee to touch 23 to dirham sounds unlikely (Indian rupee may hit 23 vs UAE dirham; FDs not the best investment; KT, Nov 11). Consider this, gold has fallen today. Dollar may follow suite. There were top naysayers who had predicted crude oil to touch $250 per barrel, and yet we know which side it went. All the calculations being put forth here may be correct as per today's reckoning. However, the world's geopolitics may change anytime. Who knows, India and Pakistan may extend the Kartarpur bonhomie beyond that passage - they will surely have the support of many common friends including the UAE and Saudi Arabia. If that happens - and there are good chances it might - then both the Indian and Pakistani rupee might travel the opposite direction. At least I will pray for this.

- Partha Chowdhury, KT website


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