To know what this editorial says read the article Turn away some of that NRI money
The article makes no sense and at best reflects the lack of understanding of market dynamics of buying and selling dollars in the open market through various schemes. How such an idiot could become an editor that too for a reputed economictimes paper is beyond my understanding.
Every exporter/importer including some government agencies involve some hedging to fend of currency fluctuations. At times, they short rupee and at some other times they short foreign currency. Do you call such activity unpatriotic?
I am interested in seeing this idiot who came up with this theory on economictimes.indiatimes.com
NRIs have been sending money from decades which actually filled the plates of government that helped them to import goods into the country. Sending dollars to India is not of a recent phenomenon. There will be flood of dollars in coming months due to low interest rates in US and how is this editor going to stop that is still unknown. Government on one hand is seeking cheap money and economictimes editorial staff is roguish and is resorting to jingoism without any purpose.
Filed under: Finance India, India blogs, Indian Bloggers, india wired , economictimes, NRI money, turn away nri money
