"It was a wonderful experience interacting with you and appreciate the way you have planned and executed the whole publication process within the agreed timelines.”
Subrat SaurabhAuthor of Kuch Woh Pal
In 1960, The Exchange Rate between Indian Rupee and US dollar was 4.76 to 1. In 2023, it became around 83 Rupees to 1 USD. This Book, which is the result of intense research, lead by the author is all about finding the Mystery that lay behind that kind of free fall of the Indian Rupee against the US Dollar.
The Author discovered that;
1. The common belief that every devaluation of a currency helps increase the concerned country's Export is actually not true but a fallacious theory.
2. It is not devaluation but a stable Exchange Rate of a currency that generates a faster growth rate in Exports.
3. Even a revaluation upwards of a currency can stimulate Export growth.
4. There is yet an unwritten but naturally existing law when devaluation of a currency is carried out violating this law the devaluation becomes unproductive. The book has defined this and named it as Currency Devaluation Law.
5. The country who abdicated the responsibility of managing and controlling the Exchange Rate of her currency effectively can never develop to her potential.
6. There are 3 prominent ways to manage the Exchange Rate of a currency. They are PEGGED, INDIRECTLY PEGGED and FREELY FLOATED.
The book insists that out of these 3 ways, going back to the pegged system from the present freely floated will be in best interest of India.
The book has proved all the findings with easy to understand tables constructed from data given by the World Bank.
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Naba Kamal Bhuyan
A graduate in Economics with further studies of Business Administration in England, Bhuyan was picked up to do a course of 'Graduate Apprenticeship (Management Trainee)' by a multinational company of United Kingdom, where he got good insight to different aspects of a higher applied economics and engineering technology involved in the metal cutting industry. Later he worked 30 years in two different multinational companies in senior managerial positions including as a General Manager (old designation). He was involved in establishing two companies for FDI, one of them was to manufacture fuel injection equipment which require micron tolerance in many of the components. In both these assignments he had the opportunity to travel to many countries, a habit he kept up even after retirement. His travels included countries like USA and Canada in North America, Brazil and Venezuela in South America, almost all the countries in Europe including Soviet Russia, Egypt and Kenya in Africa, UAE, Saudi Arabia and Kuwait in Middle East, Burma, Sri Lanka, Malaysia, Singapore and Thailand in South Asia, China and it's several industrial cities including Hong Kong in Central and East Asia, further East, Japan, Further South East, all major cities of Australia. During his travel, Bhuyan engaged the common people and his love tribe the Economists to know how they were affected by corruption in Government Offices and tricky complicated Economic theories which almost confuse the students and experts of Financial systems. The Book is the result of the research he undertook, the knowledge he gained during his worldwide travels and the experience he acquired during his sojourn of thirty years with two multinational companies.
Bhuyan was also a reputed sportsman having won the Athletic championship of his University, captaining the University Cricket team as well as playing First Class Cricket like Ranji Trophy in India.
He was also involved in cultural events, his wife being a Padma Shri in Indian Classical Dance.
