Remedies to revive the falling rupee... To make the rupee more valuable, and to economise on printing notes or coins, it is best to let the current rupee die an unsung death. At 65 to the dollar, it is anyway close to retirement age . We should issue a New Rupee which is 100 times as valuable as the existing one. The best way to upgrade the rupee is to redenominate it by decreeing that old Rs 100 = New Rupee 1. While currency in the bank will automatically be denominated in the new rupee, the currency with the public will have to be brought to banks to exchange for new Re 1 notes. A side-benefit: those Pakis sending us fake currency notes will be left with a lot of unbankable notes. And so will our black money holders. New Rupee is the way to go.
Posted on: Thu, 22 Aug 2013 08:34:41 +0000
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