Rediff.com |  Feedback  
You are here: » Rediff Home » Discussion Boards » Permalink
  
View : Single Message | Complete Thread | Read complete Discussion
RE:Is rupee rising or dollar depreciating?
by sudhanshu singh on Jul 25, 2007 10:01 PM

You r right prasant, dollar is weaking against all curriencies. Here in Phillippines, two years back one dollars can fetch you 56 peso but now only 45 peso. The only solution is to look for the other countries to do business but unfortunately for Indians the USA is synonemous to the whole world.
And if we avoid diversing our business in to other areas, we will pay the price. Another major attack by Al queda or muslim terrorists in USA like 9/11 and you will see dollars coming down to 30 rupees. What will we do then?
So let the exporter make all hue and cry,but donot pay much heed to their demand for subsidies. They are in business and of course have a good calibre. They will ultimately find many ways reduce their dependence on US dollars. Other wise it will be like millions of rupees going to fertilizer subsidy for private companies using Neptha based technology while they can change easily to gas based low cost production technology. But when they are getting huge subsidy from govt in the name of farmer why will they change?



    Forward  |  Report abuse
The above message is part of the Discussion Board:
Rupee rise: How you are affected