Lurker Posted March 29, 2007 Share Posted March 29, 2007 Be brutally honest now... IT stocks battered as rupee hits 7-yr high -------------------------------------------------------- The rupee on Wednesday ended at a seven-year high of 43.04/06 as banks sold dollars to replenish their funds, thereby avoiding costlier money market borrowings. Dealers said the Reserve Bank of India (RBI) intervened to stem the rupee?s surge. As the domestic currency touched its highest since June 1999, stock prices fell the steepest in two weeks, led by exporters. http://www.financialexpress.com/fe_full_story.php?content_id=159349 What essentially it means, specially to those who remit to India, is an amount of 1,000 USD would fetch your family something like 43,000 INR today while it has fluctuated anything from 48,000 to 44,000 INR this millenium, generally around 44,000 to 45,000(exhange rate of 44 or 45 Rs per USD). So here is the question for the day - Do you feel happy when Rupee gets stronger, and your savings/remittance dwindle, or would you rather have it other way around? xxxx Link to comment Share on other sites More sharing options...
apocalypse Posted March 29, 2007 Share Posted March 29, 2007 Re: Good news or bad news(for you)... I feel good because its in a way reflecting our economy. I know people who have come to US taking loans earlier would not be so happy. Link to comment Share on other sites More sharing options...
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