Rise of the Rupee : I should worry !
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Now, If I had withdrawn 500$ from paypal in Jan ‘07 I would have 22,150 Rs and at the current rate if I withdrew now, I would have 19,825 Rs (Paypal’s showing 39.6 as exchange rate).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 ?
May 17th, 2007 at 1:27 pm
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
May 17th, 2007 at 10:09 pm
I am another Indian [:D]
June 27th, 2007 at 11:00 pm
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
June 28th, 2007 at 9:53 pm
This is good. Before one withdraws the money, keep a watch on the market. When the market goes slightly up - Bang ! you withdraw
lol
July 3rd, 2007 at 7:26 pm
Indians who earn in dollars would be worried with the dip in dollar rates.
July 27th, 2007 at 5:52 pm
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
July 30th, 2007 at 3:13 am
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
December 3rd, 2007 at 12:21 am
[…] of the service I did and Paypal charging 1 USD less that what the actual market price is (Having tough time already). But I think this good news is nice enough to forget that. I had immediately added my HDFC […]