Comment Re:So, will they quit manipulating their money? (Score 1) 157
Generally, India's money should be at about 30 rupees to the dollar. It is now over 65. that is because they are directly manipulating against the dollar. This has gotten old.
As much as I'd love for the Rupee to be 30 to the Dollar, you have to give some basis for this comment about currency manipulation.
The problem with your statement is that it makes no sense for the Indian economy to have a weak currency. India is the 3rd largest net importer in the world (after USA and UK). It makes no sense to have a weak currency for a net import country. It leads to massive inflation which is what is happening in India right now (and has been for a while).
It makes sense for China to weaken their currency since they are a net exporter, but makes no sense for India. You're incorrectly assuming that the IT industry rules the roost in India -- it makes up only 1.6% of the GDP. Hardly enough to drive fiscal policy to the extent of currency manipulation (then again, there's always corruption and industry collusion).