The decreasing dollar
Jul 3rd, 2007 by admin
I tried to withdraw some money from PayPal today and I was shocked when I saw the value of dollar in terms of Indian rupee. The conversion rate has go down to as low as Rs.37 per dollar! It was around Rs.42, only a few months back and the top conversion reached Rs.46 somewhere around the month of June last year.
The Indian economy is indeed growing at a very impressive rate. The SENSEX fluctuates at around as high as 14,500 these days! Looking at the rate it which it is growing, it seems like the value of dollar in terms of Indian rupee is not going to rise at least till the next budget plan. It may only reduce. Though it’s bad for us Indian webmasters who earn in US dollars, but at the same time, I feel good that the Indian Economy is improving at a very fast rate.
In the present scenario, it’s best to keep the Paypal money for later usage, when we happen to move out of the country. Or it’s best if we could use it as paypal money itself without converting to Indian rupee, like buying something online or investing in some online project through the paypal, for example. For me, I am planning to spare my PayPal money for my advance studies which I am planning to pursue in the US in a few years from now. So, let’s hope all will be fine!