Its bad rates for India $ going dowen and dowen for us. Nornall rate is under 42/$ today. While PayPal offer lower than 41/$ 1 U.S. Dollar = 40.3357 Indian Rupees
RBI purchased 10 times lesser $$ in March & April than it purchased in Feb. This is why $ is sliding , while Rupee is appreciating much against the wish of us DPers.
Two months before it was about 44.5 but now is it 41 ???? Oh really bad :? Will it increase : Any chance ?
RBI will not be buying dollar aggressively from now onwards. The reason is "inflation" What RBI is trying to do is to reduce the amount of rupees in the system and curb inflation. A weaker dollar also makes imports cheaper and forces local producers to cut prices. Moreover as the dollar is weakening against other currencies, it makes more sense for the RBI to stay invested in INR than dollars. Most analysts believe that the highest that dollar can go this year will be 43.5-44.
Thats a pretty accurate assessment, i can see the dollar between 40.5/41 - 45 for this year. The thing which is the to be noted is that the dollar is getting very weak, the rupee is pretty stable and on the stronger side but the dollar is going down against all currencies.
Yes even rate might be dropped into 40Rs. This is 9 year lower rate for India. Latest rate of PayPal is: 1 U.S. Dollar = 40.6380 Indian Rupees
Today the rupee went up by over 0.27, i m waiting for it to go back to the 44 levels hopefully before requesting a cheque!
Well yesterday Kamalnath,Minister of Commerce & Industry has spoked over this issue and give some suggestion to get rate once agian higer. But it take some times before get 43+ mark once agian. Fine more:http://www.thestar.com/Business/article/205287
OMG! This is really bad news for us who have lots of money in PayPal because if this will continue next few days than next month we have lower than 40 Rs. Also it is bad for Businessmen of India who exports their goods.
from our countries point of view (not from DPer's point of view ) a 30-35 INR per $ is the best range. it will help both export and import. our export will suffer some loss , but still be in profit. and import sector will boom, means we import mostly oil, if INR goes high, our oil price will reduce, which will be good for average citizens, as price of cooking gas, transport cost etc will come down. we can see $ is losing against oil every time though there some retracement, its not a good idea to depends on $ to move our economy, its better to hike our Inr price to get a stable oil price in the market coz the bottom line oil control economy not $ , nice strategy by our economists still a sudden change either up or down is always bad to economy thats the thing we should keep an eye on.
Yes they suffer some loss but it is more better for us if rate going dowen 40 Rs per $. It also reduce some prices for important things as you mention in your posts. But RBI should buy some $ to get that rate more higher for our GDP. I think 43 is ok.
Ya amit, it sucks.... our funds going down in value without even doing anything. Hope the rates go back to 43-45 ..
The rate does not changes much but just +-1.5 To sell INR for US$, the rate is INR 44 +-.xx To buy INR for US$, the rate is INR 41 +-.xx