Humpty Dumpty Rupee in a borewell
Rupee has followed numerous Indian kids down the borewell after the worker
bees have turned net consumer in the hive.
More spending than earning has finally pushed rupee to a corner where
speculators have taken over the charge with heavy punches and blows. Poor thing
right now is in catch 22. Any efforts to rescue might push it deeper in the
well.
The assaulted rupee is bound to have its toll on Indian economy and stock
markets in near future. Govt. spending cuts and interest rates hike, though not
desirable, are the only two options left. Speculators will also be
leashed.
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