In 1947, US$ was at Rs. 1.5 and UK£ at Rs. 2 There is no reason why Re will not equal or exceed these currencies in a few decades. While the developed world is facing erosion of purchasing power, ageing populations, social security worries, etc., some developing countries are speeding towards much higher incomes, standard of living, social security and what not. It is bound to converge somewhere up in future.
