The Rupee hypocrisy both sides deserve

Why does everyone suddenly become an “economist” only when the rupee helps their side?

Transcript

00:00I'm hitting both teams today equally hard.

00:10Team A, the same uncles and aunties who in 2013-2016 screamed

00:1474 pe dollar, Manmohan ne desh pech tia

00:17are today sitting absolutely mute at rupee at 90.

00:20Goodbye, thank you. Bye bye tata.

00:23Team B, the ones who thought it was not a big deal back then

00:26are now the ones crying.

00:27This is a magnifying glass.

00:30And I have brought it because I have lost track of how deep

00:34and how steeply the rupee has fallen

00:37and of course with that the prime minister's dignity.

00:40Same hysteria, same zero understanding, just a new target.

00:44Hypocrisy ki bhi seema hoti hai.

00:47Both sides only open their mouths when the fall hurts their political enemy.

00:52When it helps their guy, silence.

00:55When it hurts their guy, national emergency.

00:58Here's what neither side will tell you.

01:02After being overvalued for almost a decade, the rupees are EER is finally below 100.

01:07Indian goods are the cheapest they've been abroad in years,

01:10exactly when Trump is coming with tariffs and China is dumping products everywhere.

01:14Papa, Papa Donald Trump, Papa Donald Trump.

01:17A weaker rupee right now is the best free gift Indian manufacturing has got in 10 years.

01:21So when you have calibrated depreciation, again you're making those Chinese imports a little bit more expensive

01:27and giving Indian domestic substitutes a better chance.

01:31So I think we really should not confuse a strong currency for a strong economy.

01:37But who cares about factories and jobs when you can score political points?

01:40So keep switching sides, keep the fake outrage, keep proving you only understand exchange rates

01:44when they can be used to abuse the government you hate.

01:46India's inflation rate historically has been 4-5%.

01:50Global inflation has been 2%.

01:52To maintain our external competitiveness, a 3-4-5% rupee depreciation is par for the course.

01:59The rupee-dollar rate issue is too political in India.

02:01The rupee's slight is mainly economic.

02:03It's not a moral or patriotic failure.

02:05Unlike China, which keeps its currency weak to boost exports,

02:09India is import dependent, especially on oil.

02:12So a weaker rupee hurts more by making imports costlier and widening the trade deficit.

02:17The rupee does not vote BJP or Congress,

02:19but both camps are too busy protecting their ego to notice they just got exposed as the exact same hypocrites.

02:26Only the jersey changed.

02:27I'm Anisha Bikari.

02:29First things fast.