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Your Rupee Lost 5% This Year. Government Says, 'Don't Worry.'
Rupee crossed 90 per dollar.
Worst since 2022. Down 5.3% this year.
RBI's response?
"This is devaluation to support exports, not depreciation."
WHAT RBI WON'T TELL YOU:
- FPIs pulled out $933 million in December.
- Net outflows doubled from November.
- Current account gap widened to 90 basis points.
WHAT THIS MEANS FOR YOU:
- Memory chips: Prices up 6x.
- Beauty products: Higher import costs.
- Electronics: 3-7% price hikes coming.
- White goods: Revising prices now.
Everything imported just got more expensive.
And let me tell you, India imports more than its exports.
So those who are telling you that it is good for our exports are lying.
Hey @SBICard_Connect
I just got done with a video KYC process for a credit card and surprisingly there has been no communication from your end indicating whether it has been accepted or not. It leaves me thinking if it was a fraud call and I have been scammed.
Please improve.