Friday, October 24, 2008

Lets wait and watch...

Well India's forex reserve is approximately 300 billion Dollors... RBI can manipulate the value of dollor according to their requirements....

This is the time of recession around the world.. for India's concerns, in US and EU... And India's exprort industry mainly constitutes of IT (softwares and services).. and the major markets for India are US and EU... Even biggies like SAP are offering a 15% discount on their services in this time of economic slowdown... India manipulated the value of Dollor and Euro to increase the profits of IT industry and other major exports... exports will shrink but profit will not with this strategy... have a look at the change in all major currency values w.r.t INR...


USD ----> was 39-43 in last 1-2 years ----> Recently around 50

Euro ----> used to be 54-55 ----------------> recently around 64-65

Aus Dollor---> Was trading between 39-43 from past 6-8 moths -----> Now at 33.15, which is a 2 year low for AUD

Pound ----> used to be 80-84 ----> now also around 80

Canadian Dollor ---> Normally trades around 43-44 ---> Present value 39.5

NZ Dollor ----> mostly trades around 31-32 ----> Presenlty at 29.5.....

Even our stocks markets are crashed and it is in all yime low below 10k...But one good thing is goin to happen Reduction in Crude oil prices...we may get a diwali gift from Doera ..

3 comments:

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