Foiled by the Rupee?

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  • Post category:Currencies

I make a big deal about India and its Central Banker, Raghuram Rajan.  He stands out among global bankers for his willingness to fight inflation and credit bubbles as needed.

But I have to tell you that I think I made a mistake using the Rupee chart as apparently, it is either an inverted view or a view of USD vs. Rupee.  I have not been able to determine which, if either of those cases are correct.  But I made an assumption that it worked like the other symbols at Stockcharts ($CDW, $XAD, $XEU, $XJY, etc.).

My use (or more accurately, interpretation) of the chart was wrong according to a couple of readers.  The reason I think they may be right is because I am the furthest thing from a FOREX trader.  I may churn too many charts in trying to put a wide spectrum of macro indicators in view and that is something to think about; maybe dial it back a bit and focus more.

Anyway, it appears I was W.R.O.N.G. to use that chart.  It is not the first time I’ve been wrong and sadly, it’s probably not the last.  I do believe in honesty and continuous improvement, however.  Hence this post.  Also, I would enthusiastically receive education on the matter!  Just use the contact link above.