Koshynomics: Dollar Appreciation Contradiction Conundrum
The Economist is either ignorant or had hidden this from public perception. My ward fees for two, had become nearly10 times in the past decade, cumulative or net, albeit, yearly increase was merely 15% p.a. .(Quarterly estimates from Rs 3000 to Rs30000). As Einstein said, “ Compound interest is eighth wonder of the world.” How, I fortuitously, stumbled upon it or became unaware in this regard, is another wonder , as a person with substantial knowledge, as early as , an admirer of Reaganomics in the 90s, look forward to. I was aware and checked the fluctuation of the Dollar w.r.t Yen beyond the 90s. It varied between 87 to 113. Found nothing mysterious about it, and I was presuming same was happening w.r.t Rupee, which I was oblivious during half a century of career of being an inveterate reader . My poignant memory, had aided me to note that in the late 70s , the Dollar was trading to Rupee as 1:15, when we were main exporters of seafood and cashcrops or mere commodities. As a skeptic and out of curiosity, I found incredulous and astonishing , exporting was increasing in leaps and bounds , every decade and the rupee was getting decimated in sharp contrast. In the 90s, the Dollar had humbled the rupee from 25 to 50 albeit, we had exported lakhs of software engineers during Liberalisation. The next 2decades , we had exported 1 lakh IITians , and our currency further depreciated from 50 to 76. Now bring China into the perspective.
In 1950, 1 Dollar=1Rupee=1 Remimbi (Chinese Currency).
In 2020, 1Dollar= 8 Remimbi =80 Rupees. That means , in the last 7 decades, China has progressed 10 times than India and America has progressed 80 times than India. That is why the materialists proclaim! Almighty Dollar! . Indians maybe the most patriotic country in the world not to pretend so.
Independent Researcher
Pradeep Koshy
Kochi
Kerala
India
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