Rupee has got stronger by about Rs. 2. Dollar value is Rs. 47.5 according to XE which showed Rs. 49.3 few days back, so just near US election time. Inflation is a major problem with layoffs in all sector and experts predict this is going to stay for 4 years still. When investors violate basic investing rules and invest in sensex, this is what happens.
If you today exchange one dollar in India, you would get whooping Rs. 50 per dollar. XE shows Rs. 49.1 for 1 dollar and in India i know you get a rupee more than that listed at XE. So finally the mark i wanted dollar to reach has reached. I would still suggest dollar to be at Rs. 45 for some healthy rupee because this shows how weak rupee has got against dollar. I hope rupee doesn’t get weaker than this because then its not good for economy also because developing countries import major things and lower currency value means more outflow of currency. The crude oil prices have been dropping but govt. still doesn’t think its right time to cut petrol prices in this environment of inflation where most basic amenities are as much costlier by 30-50 %. Dollar value is definitely high in India currently. This means if you buy any gadget or device from US, you need to pay about 25% more than what you would have paid 3 months back when dollar value was at Rs. 40 per unit.
Rupee has shown no signs of improvement and dollar value in india is nearly Rs. 50 per unit, the quite unexpected thing. Several weeks back, people who wished dollar value should increase in india upto Rs. 45 were praying for it. And now, dollar isn;t slipping even below Rs. 47 at any cost. Its all time between Rs. 48-49 and may be soon in a day or two it would cross Rs. 50 mark making headlines in newspaper here. Major problem in inflation which is at 11.5% in india.
Rupee is showing no signs of recovery. Today dollar value:
1 US $ = Rs. 48.5
Past 4 months, inflow of money in my house has increased by Rs. 30,000 due to rise in dollar value here in India. Even CAD $ is at Rs. 43 per unit.
Today dollar value in India has touched new height. Today if you convert 1 US dollar in INR, you would get INR 48 per unit. Several weeks back when dollar was hovering near Rs. 42, i did say that it would touch Rs. 45 mark. But wait, the dollar nowadays is always above Rs. 46 per unit ! US sub-urban crisis and economy is yet to detiorate much and also i expect dollar to reach Rs. 50 per unit. If it reaches, this will create a history in India. Also Asian countries are facing inflation problem.
Dollar value past several days is above Rs. 45-46 per unit. This is because of dollars depreciating value due to current US economic crisis. Today’s dollar value is around Rs. 46.5/unit. So these is the best time to exchange currency to get more from dollar. Past 4 months, dollar value has risen from Rs. 39 to Rs. 46. So my prediction that forex can be a good part time business is right. I had the vision that if anyone invests 4 months back in foreign exchange, would reap good.
Countries in much business co-operation and affiliation with US companies will suffer much.
INR is at 2 years low value and that is why people can get more value for other foreign currencies here, like for e.g US dollar will give clean above Rs. 45 per dollar. Not that dollar has become too strong but my countries rupee’s value has been down. Recently Lehman brothers filed for bankruptcy and Merrill Lynch acquired by American bank. General Economy is not good in US either. Plus crude oil is dipping below $100 per barrel.
I always said that in India, dollar would sometime cross INR 45 mark. US dollar today has achieved this mark. This mark was last touched by dollar some 2 years back. Rupee gets a bit more weaker. Crude oil prices show no sign of increase. Also Omani rials is expected to touch Rs. 120 per unit. Great !
Rupee just got weaker against US dollar and has reached Rs. 45/unit. Its a record after several months that dollar strengthened against INR. The reason is a bit of inflation here in India and much dollar overflow in market. Its a long time since dollar value touched > Rs. 45.00 . Crude oil at $100/barrel. Yen at Rs. 42/unit.
Dollar value just touched Rs. 44.96, almost to Rs. 45 per unit. Imports costly, exports profitable. Even before OPEC (Oil and Petroleum exporting countries) meeting could be held, Crude oil prices rolled back to $101/barrel. Although i don’t see any decrease in petrol and diesel prices in countrywide. Reason for price falls is lack of demand in international market.
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