Tuesday, 20th February, 2018

RBI suggests that India should move to Barter System to arrest fall of Rupee

16, Aug 2013 By zhootareportor

A series of measures taken by RBI to arrest fall of rupee have failed miserably. The rupee continues to tumble against dollar and other major currencies of the world.

This has adversely impacted Indian economy in general and bond and equity market in particular. Rupee has become laughing stock in the international currency market with traders trust falling in rupee day by day. All this has happened in spite of stringent RBI measures during last three months.

Considering its’ inability to curb the fall of rupee, RBI has suggested that India should move to time tested barter system. Under the barter system, goods are exchanged with goods and services with services. This altogether eliminates the need for usage of currency. RBI feels that with this fall of rupee can be completely arrested. This plan is brain child of some of the great economists and thinkers working with RBI. One of the economists has suggested that onion should be made benchmark commodity for exchange of services with goods. So if you visit a doctor, you can provide him 5 to 25 kg of onions for consultancy depending upon how qualified the doctor is.

Rohit Shetty has expressed his anxiety over this move and has decided to purchase some warehouses to keep onions in warehouse. His decision is based on the fact that during this weekend Chennai Express is expected to earn huge money and if everybody starts buying ticket with onions where will he keep all earnings of Chennai express.