USDINR Continues It's Plunge Hurting All Leveraged Depositors

USDINR (Indian Rupee per 1 USD) has crossed 71 and touched 71.40 today.

May God bless those who bought leveraged INR deposits based on “superb” advice from their bankers.

While Indians in India can expect further inflation in the months ahead.

And large business with dollar loans can expect share price plunges and collapses.

Jindal Group valued at $6bn will either collapse or default or break up. This is just 1 multi billion dollar group. Many more to come in the weeks and months ahead.

Jindal Steel and Power considering breakup as $6 billion debt weighs

At least 1 airline in India will shut within the next few months, partly due to the rising USD.

Alarms go off in India's skies over a looming $1.9-bn sinkhole

Jobs are already on a rapid decline.

Job scarcity! 81,700 graduates including 3,700 PhD-holders apply for 62 peon posts in UP Police

At the same time, dozens of overseas branches of Indian banks are being shut every few months.

Indian PSU banks plan to close 70 overseas offices this fiscal

Bank's in India are caught in a perfect storm due to massive bad debts, oncoming Basel 3 requirements, weak INR, lack of lending and dropping deposit base.

PSU banks’ NPA write-offs rise whopping 161% in 4 years of Modi government; check full list  

With exports declining, overseas branches reducing, bad loans at their highest, infra and diamond lending halted, 12 major banks with a freeze on any lending, Govt's inability to pump in excess capital, USDINR at it's lowest in history, thousands of millionaires having left India, major Govt owned entities unable to give dividend or in serious losses (Air India, SAIL, Banks etc), major corporates being sold to foreigners or shut down (all of Anil Ambani enterprises went bankrupt and Essar Oil was sold to the Russians), how will this quagmire be resolved remains anybody's guess.

The losses of Govt owned enterprises in India is beyond astonishing.

PSU losses: Rs 1000000000000 and counting...Do we still need them?

Just yesterday, we had warned of a massive decline in USDINR causing grave losses.

NRI’s (Non Resident Indian) Depositors To Lose Heavily Due to USDINR Plunge  

But looking at today's chart of USD INR, it remains certain, that 75.00 is not far and 80 is possible within the next 6-9 months. 

USDINR has crossed the 70 level and and risen above the rectangle to 71 and therefore appears to be in a free fall. 

Just in Feb 2018, USDINR was around 63.25 level. Today it is at 71.40 level which is a 13% drop in about 6 months.

This will give nightmare to all leveraged investors as well as to all foreign banks who proposed such an investment idea to their clients.

There is lot of money to be made in the Tech space or Cannabis revolution and many others, away from the risky emerging markets.

If you wish to get solid investment advice and need to design a long term investment portfolio, you may contact me at voiceofthemarkets@protonmail.com. All portfolios must be above USD 3 million.