its the dollar thats declining and not a the ruppee which is appreciating..against all other currencies the ruppess is still the same (or even worse)..
RE:get the facts right
by DEVADAS SHENOY on Oct 03, 2007 08:03 PM Permalink
stupidity, rupees is getting stronger with even gulf currencies.It was 12/- now it is 10.50.
RE:get the facts right
by Jayesh Ved on Oct 03, 2007 08:31 PM Permalink
Gulf currencies do not have their own identity on the parameters of economic fundamentals. Yes they have oil exports but currency fluctuations are subject to much above this lone feature of their economy. GCC currencies are pegged to US$ and behave in propotion to US$ behaviour. so if UAE dirham has slid to 10.50 it is just the reflection of $ slid.
