The Indian Rupee : I know it is going to continue to go down

ET Now: If you look at that as a background, the Indian rupee seems to be catching up with the decline in other Asian currencies. How much do you see the rupee sliding from here on?

Jim Rogers: I know it is going to continue to go down. The Indian government has not done very much in the last year to revive the Indian economy. India is a debtor nation, so people are now waking up to the problems that exist in the world and in India. That is why more money is fleeing to the US dollar.




Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

The Indian rupee will be weak for a while

Jim Rogers : I know it has. I had noticed that. What has really happened is there is a flight into the US dollar, people would panic. Now the US dollar is not a safe haven. I assure you US dollar has got terrible problems and it is a very flawed currency, but in the panic, people are rushing into dollars because they do not know what else to do and that is going to continue to make the rupee and other currencies weak at least for a while. Now there should be a rally in the rupee soon, but as long as people are terrified, they are going to run into places like Swiss frank or the yen or the US dollar. So be prepared for weak rupee for a while.- in ET Now