Ohhh A Weak Dollar... Its really a bad time for us..

Hello,

I have just heard in CNBC that Indian Ruppee will Appreciate atleast 1 Rs. every year.... It means in 39 Years we get $1=1 Rs. but thats very good for me as an Indian citizen..... I get a Laptop for less than 1000 bucks which now costs an avg. 40,000 bucks... Wow

Has this affected you? How much does you local currency appreciated? Here in India Rupee Appreciated a whooping 18% in ONE year... It means I earn 18% Less.


And Indian IT companies are strugging....... So whats the solution?

UPDATE: Just heard that 29,000 Jobs are going to cut here in India due to strong rupee.... So it means Indias top employers like Infosys, TCS, Wipro all will reduce the salary or cut jobs......

 

yes i am too waiting for that moment.
but then all online shopping sites will have currency as INR

 

Same in Ukraine, I earn more, but it doesn't compensate anything. We have $1=5.05 ukrainian grivnya for about 5 years, but....prices rise each year anyway. What is the solution ? 1. Charge more 2. Restructure business 3. Stop selling 2000 submissions to dirs for $50 and similar crap services. 4. Pay more attention to local markets.

 

I would trust more the EURO at this moment. The dollar also inherently devalues the EURO as you will buy less gas for your car with the same amount of EURO's, the price of the gas will increase as the dollar will go down.

That's bad for everyone in Europe, not for the rest of the world that uses the dollar.

 

I getting 3-4k INR less every month compared to last year

 

and it means you earn 500$+ a month congrats...

 

The cheap dollars makes it tough for people outside the US to make as much. But it does help the people in the US to keep their job. It may mean with the cost of oil rising that will finally get rid of our addiction to oil.

 

Yes, Ultimately I guess all NRIs will come back to India.... as the potential here is very HUGE than one can imagine......

 

India mexico and china are getting all the american jobs..
Our jobs are steadly going to other countrys ..
All our products come from other countrys..
What do people expect will happen.. Of course the top ritchest people in America will get ritcher and the poor will get poorer..
Untill they stop outscourceing or our country falls..

 

Dollar really sucks these months. The future probably belongs to the EUR.

 

Simple..start selling your products to Europeans.. 8)

 

Yes, the dollar is really in a bad state at the moment and the future doesn't look brighter either. The key fundamentals are all wrong and as I studied Economics, I can gather the reasons behind the weak dollar.

I am from the UK and the pound is at record highs (at least for the last 20 years or so) and it is good for me when I am buying things online (products denominated in USD), but on the other hand, it devalues all the USD I earn online. I am hoping that my online income explodes, but then I will lose a certain percentage as the USD weakens.

But hey, nothing is perfect and the most important thing is to adjust yourself and be flexible.

 

Yes, Diversify your business!

 

Good point. Diversification is a wise business strategy.

But remember also, that you can hedge against exchange rate fluctuations via the foreign exchange market.

 

What exactly is hedging? Although I hear some terms like that in TV i wont try to know what it is unless i have to.....

What is hedge positions... and all... I guess its an agreement between u and some party.. so that he agrees to buy $ from u for a particular rate no matter whats the current rate.... am i right? if not correct me.... too lazy too do a google search

 

here in australia the dollar has been strong against the US dollar..which sucks for me starting freelancing here because had i started 2months back for example,a $60 item would have seen me earn $80approx au.(about 20 bucks difference)
now $45US=$51au (6 bucks difference)

I really hope our aussie dollar will go down..

 

From a simple google search (sorry I couldn't resist!) the following is a definition of hedging:

"In finance, a hedge is an investment that is taken out specifically to reduce or cancel out the risk in another investment. Hedging is a strategy designed to minimize exposure to an unwanted business risk, while still allowing the business to profit from an investment activity"

So basically, you are simply covering yourself and minizing risk. For example, if I earn ALL my income online and it is in USD, then I would be at risk of exchange rate fluctuations and given the strong pound against the USD, then I might suffer. Hedging would mean me minizing this 'risk' by maybe buying a forward contract that would allow me to exchange my USD into pounds at a certain rate at a certain time in the future.

Sorry about the technical method of explanation.

 

now imagine dollar vs Euro... it´s almost half.

 

Rep++ for you... I think I also thinked that way... as I said earlier......

 

Makes me want to switch currencies now... euro's are in