Monday, October 21, 2013

Rupee woes

Check this out:

"Since January this year, the rupee has weakened 10.61%"

It's a great article from about the declining value of the rupee. I remember when 44 rupees bought a dollar. It's a good thing Nirmal operates in USD.

"The rupee ended at 61.5213 per dollar, down 0.42% from its previous close of 61.2650. The partially convertible currency opened at 61.345 a dollar and touched a high and a low of 61.34 and 61.58, respectively
Since January this year, the rupee has weakened 10.61% and has lost the second most after Japanese yen among Asian currencies during that period."
For reference, a delicious butterfruit smoothie will run you around 20 rupees. I guess that's still a lot of butterfruit for your buck.

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