Sixty to a dollar and still smiling

By Vijay Kumar

WHEN asked what steps the government is contemplating to check Rupee which slid to an all time low of 59.93 to a dollar yesterday, this is what they said –

"It's up the RBI (to take action). It has a lot of fire power. It will intervene when it think it is necessary" - Planning Commission Deputy Chairman Montek Singh Ahluwalia.

"We are not short of instruments ... We have a range of instruments to call on as and when needed, we will call upon them" - Chief Economic Advisor Raghuram Rajan

Optimism is the cheerful frame of mind that enables a teakettle to sing, though in hot water up to its nose – Anon .