13.06.2013 - In global currency war II, shots fired over India
Japanís Central Bank may want a weaker currency, but the Reserve Bank of India wants nothing to do with a weaker rupee. On Tuesday, the RBI stepped in to save the currency with major currency purchases as the rupee slipped to a new low. Weaker currencies donít always make a country more competitive, at least not immediately. Itís a combination of things: labor costs, location, scale. But one thing is for sure, since the 2008 crisis there has been what some call a currency war going on. The big guns are from the Fed, weakening the dollar for a number of reasons. One is to help make U.S. goods cheaper to acquire. Then came the European Central Bank. Call that Currency War I...............................................Full Article: Source
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