Rupee not undervalued, government 'brain-damaged' said Marc Faber : "If someone says that rupee is undervalued we have to put in the proper perspective, maybe in some sectors of the economy the rupee is undervalued but I don't think the rupee is undervalued if you look at the prices of high-end luxury Mumbai properties,"
"...in India they (interest rates) would have to go up rather substantially so that real short-term interest rates would be positive. To do that it's very painful on the economy in the near-term for the next say one year," he said.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.