The smile on Indians planning to buy foreign goodies or holidaying abroad might have got broader but I am still in dilemma. The Dollar is diving like never before, it dropped almost 4 Rs in past 4 months. The rupee gained over 8% against the US dollar in the part year itself.
44.6 - April ‘06
46.8 - Jul ‘06
44.3 - Jan ‘07
40.9 - Apr ‘07
Now, If I had withdrawn 500$ from paypal in Jan ‘07 I would have 22,150 Rs and at the current rate if I withdrew now, I would have 19,825 Rs (Paypal’s showing 39.6 as exchange rate).
Not that I’m not happy that my country people are enjoying cheaper services, its my money thats getting down. Literally, I’m in a loss of almost 8 -10% of what I usually get. I must be the first Indian who’s not happy ’cause of this fact ! :/ .
Probably I should invest, buy more Dollar stocks. eh ?
mmm your not the only Indian. I am sure a lot of Indian Blogger who earn through their blogs are worried. I am not worried though blogging is a hobby for me. I earn a few buck from it and I am fine with it
I am another Indian [:D]
Hmm me too, just converted $500 from paypal
Conversion From: -$505.00 USD
Conversion To: 20,039.66 INR
Exchange Rate: 1 U.S. Dollar = 39.6825 Indian Rupees
This is good. Before one withdraws the money, keep a watch on the market. When the market goes slightly up - Bang ! you withdraw
lol
Indians who earn in dollars would be worried with the dip in dollar rates.
Yes. you are write. Indian Rupee should go back to Rs 45. Our govt is foolish.
Read this interesting news article:
Indian Rupee should go back to Rs 45/USD
http://www.drishtikone.com/?q=indian_rupee_should_go_back_to_rs_45_usd
nope ! u r not the only person, who’s afraid of the rupee going stronger. The rupee going stronger affects Indian economy too, giving rise to a negative feedback mechanism. i wrote more abt tht in my
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