4 ms·
This from the same government that already devalued the currency used by the same people they want to be trusted by It was “demonetised”. To be fair and accurat
by ajonit 5y ago
This from the same government that already devalued the currency used by the same people they want to be trusted by
It was “demonetised”. To be fair and accurate context, a window of few months was provided to get the demonetise notes replaced with the equivalent amount of new notes.
- danuker 5y agoIt is not the numbers on the notes that matter, it is the loss of purchasing power. In 1995, 1 USD = 32 INR. In 2022, 1 USD = 75 INR. Add to that the fact that USD is also losing value itself.
- ajonit 5y agoSaying “devalued”, OP referred to the Nov 2016 demonetisation of INR 500 and 1000 currency notes that happened in India.
- hd4 5y agoCorrect, thanks for pointing that out, I edited the original comment.
- ClumsyPilot 5y agoThere are many things that happened in the global economy, banking, supply chains and multinational corporations. How much of this change is the fault of Indian government?
- danuker 5y agoJudging by the money supply increase, inflation should have been even higher. Looks like velocity is tanking. https://tradingeconomics.com/india/money-supply-m3 https://tradingeconomics.com/india/money-supply-m3