RBI Selling Dollars?

FIIs are selling. Oil's stuck at 115. Is the RBI losing ground to the traders? They have enough money to sustain, but do they have the strength to go through with it? It will be fantastic if they are able to drive the dollar down to 40 - the current strength is quite temporary, when Fannie Mae and Freddie Mac break, the rescue effort should cause major weakening; a good time to make the rupee hit new highs.

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This entry was posted on Monday, August 25th, 2008 at 4:54 PM and is filed under Commentary. You can subscribe to any comments to this entry via RSS 2.0. You can leave a response, or trackback from your own site.