I wrote this for a fellow blogger-tweet friend. The blog posts are thought provoking.
The objective behind my piece is to provoke a debate. And irrespective of what we think the exchange rate should be or could be, the reality is the number we flashing every second on the monitors that report real time trades. We can all think about whether the rupee should be higher or lower. My firm view is that for India to be a great country, the rupee should buy more dollars and not the other way around. Exports have to become value added to get that commodity price mindset (weaker rupee higher exports etc bullshit) out of our heads.