In keeping with its up-to-date coverage of topics of interest to India and Indians worldwide, MapsofIndia ran a poll on its Facebook page on September 1, asking our readers: ‘What do you think would be the Dollar-Rupee exchange rate on September 15, 2013?’ Below mentioned is the original post.
Viewers were asked to send in their replies, correct to two decimal places, by September 7. The person who correctly predicted the Rupee-Dollar exchange rate would get the INR equivalent of USD 100 as a prize. Only one entry per person was accepted.
Over 500 people sent in their entries and here are the final results. The final value of the rupee on September 15 was 63.48. We have received lots of entries close to this one but unfortunately nobody was able to predict the right value.
The closest one were:
Sumit Superb- 63.46
Bharat Chauhan- 63.50
Veeramani Viru- 63.50
Indians are concerned about the falling rupee and are looking to the Government and the RBI to initiate measures to stabilize the falling rupee. The new RBI Governor Raghuram Rajan has just initiated some measures which should address issues of concern such as the Current Account Deficit (which was 4.8 per cent of the GDP in the fiscal year 2013-13) and India’s rising imports particularly those of crude oil and gold. The withdrawal of Foreign Institutional Investors and the contraction of the Indian economy are also worrisome signs. In the midst of all this, are people optimistic or pessimistic about the currency, the Rupee? Here’s what they have to say!
What do you think would be the Dollar-Rupee exchange rate on September 15, 2013?
Range of replies:
Total sample size = 514.
Most people who replied feel that the Rupee-Dollar exchange rate on September 15 will be between INR 60-65 or INR 65-70. The final value of the rupee on September 15 = 63.48
Looks like a majority of respondents have made a fairly accurate prediction!