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Weakening dollar, Strengthening rupee – DOUBLE whammy

Posted by abyjain on July 24, 2007

We came to the UAE about 5-6 weeks ago, cannot sit and calculate the exact time frames right now. The irony (b@#$h) of it is, that the rupee has been rising for the past few months, beginning before we left and now continuing unabated. Sadly, our salaries are denominated in Dirhams now, so effectively they are going down. Most of the Indians in the Gulf come with an overall aim of taking money back to India sooner or later. The rupee, that they have seen perhaps at levels of 13 (12 easily) is now down to just about 10+ and further doom is predicted. Why, oh why do the economics of the world always work against me. Whether it is the stock market, currencies or loans!!!

It was soooo bugging to see the economictimes.com article stating the “years” highs that the rupee is achieving. waahhh!!!

Good times to be in India, surely! More shopping, more trips abroad! Less prices for all these imported goods. I am sure my last employer (IBM India) is also laughing all the way to the bank. But maybe not as IBM India also provides a lot of these offshore services like TCS, Infy, Wipro, Satyam! Whatever.

2 Responses to “Weakening dollar, Strengthening rupee – DOUBLE whammy”

  1. […] of money abroad every year and do whatever we see fit with it. Of course, it also takes care of the rupee rise whammy that we were talking about earlier. Hmmm…. things are looking up. I just hope the stock markets also stay […]

  2. andrea said

    Weakening dollar and strengthening rupee means that American firms will be less likely to want to outsource to India, instead looking towards even cheaper locations. I have a friend whose family business is branching out into outsourcing – in Bangladesh… the world is going to continue to change.

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