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Topic : Modern Approaches to ForeX Training
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Should India control Currency?

Created by : Urvish Pankajkumar Subodh, Guest Lecturer (Economics), H.L.College of Commerce- H.L. Institute of Commerce.  | 05 21 2010 10:40:35 +0000
Keywords : should india control currency?
Activity:  454 views;  last activity : 07 06 2010 20:18:09 +0000
 
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Yes of course and can be done through export of foreign exchange and currency notes. An authorised person may send out of India foreign currency acquired in normal courseof business. Cheques drawn on foreign currency account maintained in accordance with Foreign Exchange Management. Foreign exchange obtained by him by drawal from an authorised person inaccordance with the provisions of the Act or the rules or regulations or directionsmade or issued the reunder......

Hope this will help to control............  

Export of foreign exchange and currency notes :-

 
By Latha Baskar, Accounts Manager, L & T Infotech  05 24 2010 08:48:17 +0000
 
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THANK YOU LATHA.

UNCONTROLLED AVAILABILITY OF CURRENCY IN CIRCULATION HAS LED TO INFLATION,ABNORMAL INCREASE IN PRICES OF NOT ONLY ESSENTIALS,BUT EVERYTHING ELSE,RESULTING IN LESSER VALUE OF MONEY.HIGH TIME MEASURES ARE TAKEN TO CONTROL CURRENCY.
By s.baalu , Consultant, XYZ LTD  | 05 31 2010 11:40:27 +0000
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I am not saying to control a currency meaning in a clear sense...i meant to control in way to avoid unnecessary appreciations and depreciations...

For now we all know that the Rupee is over valued as far as pound is considered and u c the dollar is higher then it should be
By Urvish Pankajkumar Subodh, Guest Lecturer (Economics), H.L.College of Commerce- H.L. Institute of Commerce.  | 05 28 2010 19:30:20 +0000
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kill D currency ...shift 2 barter system ...cry of D second !!..
By Ajay Ziz, Dy. Registrar,, University of Jammu  | 05 28 2010 06:54:48 +0000
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@ hemantha sir I agree to the fact tht if it does quickly  it will hurt the fx market... but if it does not this will keep on increasing... and will hurt as for sure

@latha ma'm yes we know that govrt has got alot of those options to control(Thank u for explining those)

but my question is that why dsnt our govt do control it?
By Urvish Pankajkumar Subodh, Guest Lecturer (Economics), H.L.College of Commerce- H.L. Institute of Commerce.  | 05 25 2010 14:52:42 +0000
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I think India should control currency as a major part of the US industry is supported by India be it in any field, and now a days we are witnessing an Indian/Indian company going and acquiring lot of companies in the USA market I think it would be better for India to take over this job, as of today the US currency is made the benchmark for currency comparison I feel India will soon take over this position.
By Madhusudhan S V, Analyst, India Software Group - ISG (A Div. of Chambal Fertilizers and Chemicals )  | 05 24 2010 21:58:13 +0000
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thank you latha for inviting me in this discussion, yes foreign investment plays a major part in so many industries of our country so we must control the rupee movement.
By Satadru Shastri, Partner, Mukherjee & Shastri  | 05 24 2010 18:26:09 +0000
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if it doesnot then our economy would be like a zimbambe's economy
By aditi gupta, MBA/PGDM student, pimr,ips  | 05 24 2010 16:04:02 +0000
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It is very essential for us to control the currency in the present global market
By T V Srikanth, Deputy Manager - Operations, SQL STAR International  | 05 24 2010 15:44:59 +0000
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you cant suddenly control currency, but you may forcast & planning right now then you may control it.
By Sandip Singhal, Asst.Sales Manager, Arpit Housing Company  | 05 24 2010 13:32:52 +0000
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In the interest of Inflation management and with a view to protect the domestic trade it is advisable.
By Raghavachari S Nambi, Director Consulting Services , R S N & Associates Chartered Accountants  | 05 24 2010 09:53:36 +0000
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Since the movement of foreign currency has it's impact on trade,import, services export , real estate , bullion markets and capital markets in india, India should conrol the rupee movements.


By Raghavachari S Nambi, Director Consulting Services , R S N & Associates Chartered Accountants  | 05 24 2010 09:52:03 +0000
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With a similar economy China which is control its currency and keeping it undervalued which in turn helps china in Export business.... on the other hand our govt has not intervened the currency market which has lead to Over valuation of the Rupee.... This has cause 2 problems 1) over valuation 2) also our export based companies are getting hurt...This means that if we control we can achieve a better growth and a increase in income as well....
By Urvish Pankajkumar Subodh, Guest Lecturer (Economics), H.L.College of Commerce- H.L. Institute of Commerce.  | 05 21 2010 10:40:35 +0000
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@ajay i think u are unaware about the Short comings of the barter system!!!currency is far better then barter system!
By Urvish Pankajkumar Subodh, Guest Lecturer (Economics), H.L.College of Commerce- H.L. Institute of Commerce.  | 05 28 2010 19:31:09 +0000
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In a growing economy if you try to control currency it will only be counter productive.
By Shashi Kumar U, Manager accounts & commercial, Mazda Concrete Products Pvt Ltd  | 05 28 2010 05:49:02 +0000
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You cant suddenly control currency, because it will immediately cause so much turbulence in the economy. So much of perceived investments are coming in and industries are being set up not only because the currency is weak, but also becuase of no regulation. ok ,  in case of china controlled currency works. Y? because it is a totall authoratarian regime where control has been established throughout, and also the govt. there throws in so much other measures to entice business houses. India isnt into a control regime for any sort of issue. Summing up, controlling currency to achieve what? will it be achieved as there are other international players around. Further no tangible benefits are available in control as the spin off is, u gain in exports then you would lose in imports and so on.
By hemantha kumar, Technical Auditor, Government Audit  | 05 24 2010 12:10:08 +0000
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