Today one dollar is equal to 48.8 rupees. Very soon it will become 50 rupees. Then it will be very easy for Indian bloggers to calculate their income in Indian Rupees. Do you know why it is happening? Before writing this post, I also have not much idea on this point but I searched many finance related websites on Google and get the reasons behind this depreciation of Rupee against dollar. These days there has been increased demand for dollars due to a spurt in oil prices.
As a result of this foriegn exchange is flowing from India. Another main reason is that foreign investors sold more Indian shares than they bought. The recent downfall in Indian share markets also added more flavor to this issue. What has happened to growing Indian economy? Depreciation in Rupee, decreasing sensex, layoffs in big companies. I am worried, what about you?