Status of Indian Rupee
By abroji
@abroji (3247)
India
May 3, 2007 7:31am CST
Consequent to the decrease of value of the US $ Indian Rupee is appreciating value, it is reported. Value of US $ has come down to somewhere near Rs.41 from recent Rs.43. What does this signify? Is it good for India? Has it any adverse effect in any aspect of Indian economy?
I know there are many learned people in the myLot community from India and other countries. Can somebody elucidiate this understandable for laymen like me. I'll be thankful for that.
1 person likes this
3 responses
@touchnshine (2821)
• India
10 May 07
Dear abroji
It's a sad news for sellers .. like me .. Earlier 1 dollar was equal to 46 Rs. and now it's just fluctuating between 40 and 41.. I don't know that if it has any adverse effect in any aspect to the Indian economy .. I want 1 dollar should be equal to 46 Rs.
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@touchnshine (2821)
• India
10 May 07
Cannot increase the price as buyers will just ran off .. .. drawback is earning are less :)
@toxic_f22 (166)
• United States
10 May 07
Lets take both sides of the Battle ground
1 --- Indian Side
a---- Export
Company sells , gets dollars , but converting in Rupees earns less. Earnings are less....Will reduce dependency in exporting goods(Eg: IT Companies)
b---- Import
Company Imports goods to India , Pays in Dollars converted from Rupees. Has to pay Less for the goods. Will increase Import.
2--- Rest of the World side
Opposite as in the above case..
Hope this helps ;-
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@mdchennai (2129)
• India
3 May 07
Is it so abroji? That is really great. I am sure that one day India will equal to US currency. I too dont know much about its effect but according to my experience, i have seen that whenever the value of dollar reduces, there is an increase in Gold prices. This is my thinking, but then i dont know much about it!
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