Indian Users: Exchange Rate going to..........

I used Xoom yesterday it gave me an exchange rate of 40.55 something while paypal was less than it.

Now Xoom shows:

Current Exchange Rate:
US$ 1.00 = INR 39.8999

Paypal shows:

Exchange Rate:
1 U.S. Dollar = 39.9360 Indian Rupees

What the hell is this ????

Do I see a exchange rate of 35$ soon...

 

It just shows that either the US$ has increased in value against the INR or that INR has fallen in value.

Foreign Exchange is dictated by supply and demand and that will indeed change daily or even hourly. There is nothing we can do about it.

Some money exchanger will take a few percentage points as their commission and thus use that to cover expenses and hopefully make a profit. Banks do that, money changers do that and everyone who set up business to make money or have expenses will do likewise.

The $8 or $15 which Xoom charges would not quite cover all the expenses and risks involved in completing the funds transfer.

Welcome to the world of Foreign Exchange.

 

The actual exchange rate today is 40.75 so you can't expect to still get 40.55.

The fluctuations are completely normal as Paypal and Zoom adjust daily. They don't arbitrarily take a bigger or smaller cut.

 

Well exchange rate is now going lower and lower and Ruppers is more stronger now. Check out three major site rates.

From: XE.com -Forex site
1.00 USD = 40.7500 INR India Rupees

From: PayPal:
1 U.S. Dollar = 39.9360 Indian Rupees

From:Xoom
US$ 1.00 = INR 39.8999

If this will continue than we might see 35 Rs soon and this is not good news for Indian webmaster who earns money is $.

 

yes, that is a real bad news for us! i have got exchange rates of $1 = 47 INR, then it became 44.5, i have even got 42 a few months ago.
last two were, 42 and 41.9
now it is below 40, what's going on, we are losing thousands in the exchange!

perhaps i should wait till it get's up, i won't withdraw any money at this rate!

 

Well I also wait for good rates and hold big amount in PayPal account. I am hoping near 43 to 44 than I ask my check. So we have to wait for next 1 or 2 month.

 

Yeah this is very bad indication but Goverment and RBI thinking about this and take some action to get rate more stable around at 42 Rs.(CNBC tv Report.) But I am sure it took atleast 2 month for more stable rate.

 

I hope this $ rupee thingy is controlled! One cannot hold or keep funds waiting till exchange rate to go up!

My last withdrawal was at 41.something at paypal, the next day it came to 40 then now 39....

From what I am reading there is no chance of exchange rate to goto 43+ or 44+ this year.

 

Yes very sad news for us.We can only wait for INR to go up against $.

 

Thats really bad new for Indian web masters.

I think we need to forgot now exchange 43+, 44+ for this year

I had listen on TV that it will settle around June for 42 around.

 

Well, the US Dollar seems to have been weaken during Bush's Presidency. India is not the only one suffering, the world is to. I used to be getting USD$1 to SGD$1.7 but now it is down to SGD$1.47 if I am lucky.

Actually, it might not be a bad idea to switch the default currency to Euro which seems to be lots more stable compared to the US$.

I know it may look like you are suffering but take a look at it the other way around, it now means that the Indian economy has improved and the Rupees have strengthen against the US$.

 

Well Today rate is now up. I hope this will continue in next few days and we get original rate for doller.

From: XE.com -Forex site
1.00 USD = 40.9502 INR India Rupees (Up)

From: PayPal:
1 U.S. Dollar = 39.6727 Indian Rupees ( Down )

From:Xoom
US$ 1.00 = INR 39.8999 ( No Change )

 

good news for me getjimmy ........ urm then again maybe not ..i see the adsense cheque getting smaller & smaller

 

Yes both Adsense and PayPal checks now going slower and slower. Now we get less 4000 Rs for 100$ Google check.

 

Expect it to continue no matter who is president. It is the strengthening of the European Union (and their increases in productivity as more countries join) that are putting pressure on US currency.

 

I agree to what you have said. Moreover Euro seems to much much stronger than the US $, I wonder will there be a day then euro becomes a default currency and replaces the $.

 

That's not going to happen soon. I explained the whole situation behind the recent drop in US dollar and appreciation in INR in another thread.

just for your reference, US economy is on the slowdown and there is no more USD buying interest since everyone is waiting for the Oil futures to be higher than USD so they can hedge their position and buy lower USD. They will make profits on both legs. Hope thats not too complicated. I work for a bank and deal in forex and investment markets everyday.

So the only hope is oil companies reverse the trend sometime in may in order to get appreciated USD prices. INR on other hand is going upwards due to inflation and higher NRI inflows. RBI will take some action if it falls belows 37/38 Rs which is likely in some days.

So it's not going to help much holiding the Rs. The USD will take atleast 3-4 months to reach the level of 43/44 rs. that also depends on the market buying support, very unlikely

 

Well it going more down now.

PayPal: 1 U.S. Dollar = 39.4972 Indian Rupees
Xoom: 1 U.S. Dollar = INR 39.6625 Indian Rupees ( UP)
Xe.com: 1 U.S. Dollar = 40.9294 Indian Rupees

So tow of three site show down today. So we can hope under 39 Rs in next week for Forex.