Rupee Watch

Rupee Watch is a compilation of columns written between 1993 and 1999 by G. Natarajan for The Economic Times and Hindu Business Line. Natarajan’s insight into the foreign exchange market and his predictions were widely respected among a large constituency of forex dealers and bankers in India. This carefully selected collection offers readers and researchers Natarajan’s writings which capture the dynamics and compulsions of the Indian forex market at a crucial phase when the country was adapting to a globalised economy. Natarajan sensed even as early as September, 1999 when the rupee touched a low of Rs. 46.05/Dollar that the tumble of the rupee cannot be prevented even if oil imports would be financed from the oil reserve fund. He further pointed out that the international crude oil prices would rise steeply and would in all probability have an adverse effect on India’s balance of payments. Further, according to his forecast, there would be a diminishing capital inflow which would exaggerate the difference. Unfortunately, God took him away before he could see the touching revelations of his forecast.