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India hopes to save rupee by buying Biden (U.S.) dollars - on verge of U.S. debt default

 
GreatWhiteDope
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10/07/2021 02:49 AM

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India hopes to save rupee by buying Biden (U.S.) dollars - on verge of U.S. debt default
It wasn't that long ago that the rupee was worth about 6 U.S. cents (about 16 rupees to the dollar). Now it's around 75 to the dollar and falling. The national RBI is contemplating the very wise move (yes, sarcasm here) of buying into America's demise with a huge dollar purchase against the rupee.

[link to www.bloombergquint.com (secure)]

anybody out there with some colourful ways of portraying this spectacle? Two parties wrestling in the mud? A person overdosing on lethal drugs trying to save a drowning drunk? There is some relevant contextual info at the Bloomberg link, such as India's dependence upon foreign oil sources, etc.
most people are not remembered by history for their virtue, but rather by what they have written.





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