Sehwag1830 Posted May 24, 2012 Share Posted May 24, 2012 Considering the 23% depreciation in rupee against USD, somebody is going to take a huge hit. Link to comment Share on other sites More sharing options...
Swing_n_Speed Posted May 24, 2012 Share Posted May 24, 2012 Yup. Although I'm pretty certain most teams had their dollar accounts loaded before the start of the tourney. I'd very much doubt any team would be that stupid. Maybe Deccan Chargers since they reek of inefficiency. Link to comment Share on other sites More sharing options...
Needforspeed Posted May 24, 2012 Share Posted May 24, 2012 Teams would have taken forward cover before the start of the Tourney...but foriegn players will be paid in USD and since Indian players too are quoted in USD, the Rupee equivalent may be paid to them. Link to comment Share on other sites More sharing options...
Sehwag1830 Posted May 24, 2012 Author Share Posted May 24, 2012 ^^^ So franchise take a 23% hit ? Link to comment Share on other sites More sharing options...
Needforspeed Posted May 24, 2012 Share Posted May 24, 2012 ^^^ So franchise take a 23% hit ? No if they have taken forward cover on the dollar, they dont take that much of a hit. But normally no one takes more than 6 months forward cover..so lets say they get rates as of Oct/Nov 2011. Again depends on the financial advise they get. Most importers and exporters do take forward covers if the currency is volatile. Link to comment Share on other sites More sharing options...
Vilander Posted May 24, 2012 Share Posted May 24, 2012 forwards. nobody gets hit, these guys speak in millions of $ they are not your average export processing zone to get hit. Link to comment Share on other sites More sharing options...
flamy Posted May 24, 2012 Share Posted May 24, 2012 Yup. Although I'm pretty certain most teams had their dollar accounts loaded before the start of the tourney. I'd very much doubt any team would be that stupid. Maybe Deccan Chargers since they reek of inefficiency. :hysterical::hysterical: Link to comment Share on other sites More sharing options...
Raghav_12 Posted May 25, 2012 Share Posted May 25, 2012 forwards. nobody gets hit' date= these guys speak in millions of $ they are not your average export processing zone to get hit. People do hedge positions but it not that everybody takes a position. I am not sure if you can assume that all frenchises would have had forwards. Link to comment Share on other sites More sharing options...
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