Will the Rupee Slide to a Titanic Low?
What’s common to Indian Rupee, Indonesian Rupiah, Malaysian Ringitt, Thai Baht, and Philippine Peso? They all have simultaneously hit a low against the dollar. But, nothing can compare with the downturn for the Indian Rupee. While the other Asian currencies have only touched a 2-year or 3-year low, the Indian Rupee has nosedived to an alarming 18-year low.
Saving the Sinking Ship
The warning signs were visible when the Rupee breached the 60 mark against the US Dollar. Ever since that, every consecutive digit fall has hit the economy hard. To make matters worse, the Sensex has mirrored the Rupee slide and brought many sleepless nights for the stock market. As the Rupee hovers around the 68 mark, the next question is: Will the Reserve Bank of India life guard the Rupee from reaching 70 per Dollar? The answer is “No”, if we consider the implications of the new Food Security Bill introduced by the Indian Parliament, the impending US attack on Syria, and the rising crude oil prices.
Story Told by Financial Stars
If we cast India’s birth chart taking into account the date and time of independence, Taurus is the Ascendant sign. The country is running the Dasha (major period) of Sun and Bhukti (minor period) of Mercury.
The astrological crystal ball points at 3 key factors that can make the Rupee slide to 70:
#1 Affliction of Saturn by Rahu
- Saturn, which is the 10th house lord, rules foreign trade and currency
- Transit wise, Saturn occupies the unfavorable 6th house, afflicted by Rahu
- Since Rahu is known as a manipulating planet, its affliction will result in fluctuations in the value of the Rupee
#2 Affliction of 2nd House by Jupiter
- Jupiter, which is the 8th house lord, transits and afflicts the 2nd house in India’s chart, which relates to material assets and income
- Since Jupiter is the money planet, its affliction of 2nd house indicates concern in money matters
#3 Debilitation of Mars
- Mars influences finance, and is weakened in transit in the sign Cancer
- Mars also afflicts Saturn and Rahu in the sign Libra
Wait for the Silver Lining There could be a reversal in Rupee’s fortune after October 2013, when Mars moves to the sign Leo and its debilitation period comes to an end. This matches the finding of Germany’s reputed Deutsche Bank, stating that the Indian Rupee could touch 70 to the US dollar in a month's time, with some revival expected by the end of the year.