Dollar is Devaluating in terms of rupees?
By amarendra123
@amarendra123 (230)
India
August 29, 2010 11:53pm CST
Dollar is definitely devaluating in terms of rupees;
earlier the value per dollar was arnd approx. 50 rupees
but conserding our fast growing economy
the value per dollar has devaluated to approx 40 rupees
On one hand it is an advantage to a developing country like india
as our import bills will be reduced,
but on the other hand it is discouraging our exporters
as they are running into losses.
The govt. is trying to compensate for the losses
to the exporters by covering
a genuine percentage of the difference
in currency rates.
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