Dollar exchange reaches Rs.50 in India !
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.