It was 40.22 INR when last checked. A good improvement from ~39. I just want it to stablize over 40. There has been some shortage of dollar in last 3-4 days, and international banks are buying it with good volumes. What do you think, are those good old days coming back?
Dollar is on a downward trend. Most likey the Fed will lower interest rates in March causing further waekness in the dollar.
If anyone is buying dollars it's probably the Indian Central Bank to stop the dollar from weakening to much. India is world's 4th-largest foreign currency holder The world's top holders of foreign currency reserves are: 1) China - $1.5 trillion; 2) Japan - $948 billion; 3) Russia - $479.4 billion; 4) India - $279.5 billion; 5) Taiwan - $272.8 billion; 6) South Korea - $261.8 billion; 7) Singapore - $163.6 billion; 8) Brazil- $163.5 billion; and 9) Hong Kong - $146.9 billion. http://www.indiaenews.com/asia/20080204/95628.htm
That’s good news; I hope that it stays that way till the end of the month when adsense payouts are made.
It will be sweet news for the exporters (in India) and those webmasters who receive their payments in dollars. Hope the dollar will stay afloat to keep the rest of the world in comfort
I remember the time when dollar was almost twice as strong as it is now but last few years it's getting lower and lower... I hope your next government will do something to improve economy and strengthen dollar .. it affects also other parts of world