Rupee expected to breach Poonam Pandey level soon: RBI officials

Sources in the Reserve Bank of India have told Humor Unplugged that the falling Rupee will soon breach a new psychological low, dubbed the Poonam Pandey level, over the next few days.

Nation’s central bank RBI is bracing itself for a significant plunge in the value of Rupee over the next few days. While the downslide is attributed to various reasons, sources in the RBI have not ruled out a multi-pronged intervention strategy to arrest the slide before it hits what RBI calls the Poonam Pandey level – a value at which Rupee gets devalued to such an extent that it will have to survive only on speculation in the future. RBI officials contacted by Humor Unplugged confirmed this development, but refused to come on record.

When Humor Unplugged confronted RBI governor D Subbarao at UPA’s third anniversary bash, he refused to speak to us saying he was relishing the dinner and had better things to do than speak to bloggers.

The next day he told us that a few credit control measures will be implemented soon to curb the slide. “We will be tightening the supply side by ensuring that it becomes tough to get hold of the Rupee. The so called Poonam Pandey level will not be breached and let me assure you on that,” he said before heading off to another party.

Some astrologer has meanwhile claimed that a change in the spelling of Rupee and the symbol will change the fortunes of the troubled currency. He said that Rupee should be spelt as Roopiiee and this change should be made at the earliest, if the government is serious about saving the currency.