> Now all other things unchanged, increasing exports by India (say software)
> is already raising the value of the rupee vis a vis the US dollar (too
> many dollars chasing fewer rupees). This is akin to the Dutch disease (a
> kind of windfall gain) which raises local currency and in the end hurts
Off the cuff response: yes, once the rupee is fully convertible it
basically means all currencies will be free to move in and out of India.
Now all other things unchanged, increasing exports by India (say software)
is already raising the value of the rupee vis a vis the US dollar (too
many dollars
At around 20/3/06 1:11 am, raghu wrote:
>
> Associated Press
> India Ponders Making Currency Convertible
> By RAMOLA TALWAR BADAM , 03.19.2006, 05:23 AM
>
> India will "set up a new mechanism" for making the rupee fully
> convertible, said Montek Singh Ahluwalia, who heads the Planning
> Commission
Indian PM Manmohan Singh wants full convertibility:
http://www.forbes.com/business/commerce/feeds/ap/2006/03/19/ap2605207.html
The Left doesn't like it:
http://www.financialexpress.com/fe_full_story.php?content_id=120973
--raghu.
Associated Press
India Ponders Making Currency Convertible
By RAM
