Crude Price on all time high

Global crude oil prices are on a all time high of US $ 125 per barrel and is adversly effecting the balance sheet of indian economy, probably it is also a reason of depreciating value of indian rupee when compared with US $ .

Crude prices could reach higher levels over the next few months as the winter season in the northern hemisphere gets under way.
Although the price of the basket of crude relevant for India is ruling at a much lower level than $55, the effect of higher crude prices is bound to affect the profitability of a swathe of companies, especially in the manufacturing sector, as costs of energy, fuel and transportation could start to spiral.

Even if the Government decides to limit the price increases by seeking recourse to further cuts in excise and customs duties, and requiring oil companies to bear an even greater part of the burden, profitability and growth rates could be affected as growth rate of the global and the Indian economy slows down. Market sentiment could also be influenced in a negative manner if liquidity in global markets dries up and a flight to safe assets and safer currencies set in.
Investors as such should consider adopting a cautious approach to buying equities, by staggering investments over a period of time, and partial profit booking on deep-in-the-money positions, may be appropriate. This could mitigate any downside risk that could envelop the markets due to the bullish trend in crude prices that is driven by a combination of robust demand and speculative activity.

The positive aspect of the crude prices story is the likely boom in construction activity in the Gulf countries. This could be an opportunity for companies such as Larsen & Toubro and Voltas, which have executed several projects in the region that could serve as a reference point for bagging more orders, and Gujarat Ambuja Cements, which appears well set to capitalise on the sharp spurt in cement prices in export markets.

The latter's earnings numbers for the July-September quarter have been buoyant with a fillip from exports as well as higher domestic prices, and there could be a further scaling up over the next few quarters. There are others that could benefit from the anticipated construction boom.
For now, we prefer the stocks of these companies, which have an established presence, higher efficiency levels that could compensate partially for rise in input costs and limited downside risks as large-cap stocks. Stock-specific recommendations of Business Line, however, will take precedence over this broad-investment strategy.
- Hindu Business line

Economy of India | Indian Business | Financial News of India: Global Acquisitions by indian firms puts India firmly on major economies

Economy of India | Indian Business | Financial News of India: Global Acquisitions by indian firms puts India firmly on major economies

Economy of India Growth Pattern - Latest Updates

It has been predicted that by 2035 there would be three major economies of world - US economy, Indian Rupee, Chinese Economy. and the growth rate of indian economy for makin this prediction correct has somewhat slowed down in this fiscal year due to global economic woes. Indian economy is a diversified economy with agriculture sector still the greatest job provider.

Indian INC's are making global impact and every second day we can listen news
about indian company's acqisition of some other company. Global Acquisitions by Indian companies are making the impact of indian economy on a global scale.

India's economy is on the fulcrum of an ever increasing growth curve. With positive indicators such as a stable 8-9 per cent annual growth, rising foreign exchange reserves, a booming capital market and a rapidly expanding FDI inflows, India has emerged as the second fastest growing major economy in the world.

The economy has been growing at an average growth rate of 8.8 per cent in the last four fiscal years (2003-04 to 2006-07), with the 2006-07 growth rate of 9.6 per cent being the highest in the last 18 years. Significantly, the industrial and service sectors have been contributing a major part of this growth, suggesting the structural transformation underway in the Indian economy.

For example, industrial and services sectors have logged in a 10.63 and 11.18 per cent growth rate in 2006-07 respectively, against 8.02 per and 11.01 cent in 2005-06. Similarly, manufacturing grew by 8.98 per cent and 12 per cent in 2005-06 and 2006-07 and transport, storage and communication recorded a growth of 14.65 and per cent 16.64 per cent, respectively.

Another significant feature of the growth process has been the consistently increasing savings and investment rate. While the gross saving rate as a proportion of GDP has increased from 23.5 per cent in 2001-02 to 34.8 per cent in 2006-07, the investment rate-reflected as the gross capital formation as a proportion of GDP-has increased from 22.8 per cent in 2001-02 to 35.9 per cent in 2006-07.

The growth pattern for this year has been robust with every sector's growth seen in green colour. some of the details about sectoral growth patterns is as follows :

The process continues in the current fiscal year. On the back of 9.9 per cent growth in the first half of 2006-07, GDP grew by 9.1 per cent during April-September 2007.

* While overall industrial production grew by 9 per cent during April-December 2007, importantly capital goods production rose by 20.2 per cent compared to 18.6 per cent during same period in 2006.
* Services grew by 10.5 per cent in April-September 2007, on the back of 11.6 per cent during the corresponding period in 2006-07.
* Manufacturing grew by 9.6 per cent during April-December 2007, on the back of 12.2 per cent growth during same period in 2006-07.
* Core infrastructure sector continued its growth rate recording 6 per cent growth in April-November 2007.
* While exports grew by 21.76 per cent during April-December 2007, imports increased by 25.97 per cent in the same period.
* Money Supply (M3) has grown by a robust 22.8 per cent growth (year-on-year) as of December 21, 2007 compared to 19.3 per cent last year.
* The annual inflation rate in terms of WPI was 3.5 per cent for the week ended December 29, 2007 as compared to 5.89 per cent a year ago.
* Fiscal and revenue deficit decreased by 11 per cent and 17.2 per cent, respectively, during April-November 2007-08 over corresponding period last year.

With such a robust growth rates, the advance estimates of the Central Statistical Organisation (CSO) expects the economy to grow by 8.7 per cent in 2007-08.

Highlights of Indian economy for present fiscal year are as follows :

Reflecting the favourable prospect of growth rate of Indian economy, the orders received Indian companies have increased by a whopping 68.6 per cent to US$ 32.48 billion during January-October 2007 compared to US$ 19.26 billion in the same period last year.

* India is among the five countries sharing 50 per cent of the world production (or GDP).
* FDI inflows have jumped by almost three times to US$ 15.7 billion in 2006-07 as against US$ 5.5 billion in 2005-06.
* The aggregate income of the top 500 companies rose by 28.4 per cent in 2006-07 to total US$ 469.51 billion.
* India's National Stock Exchange (NSE) ranks first in the stock futures and second in index futures trade in the world.
* Twenty Indian firms have made it to the list of Boston Consulting Group's 100 New Global Challenger Giants list.
* According to a study by the McKinsey Global Institute (MGI), India's consumer market will be the world's fifth largest (from twelfth) in the world by 2025.
* The number of companies incorporated has increased at an annual average of 55,000 companies in the last two years to 865,000, from 712,000 companies at the end of 2005.
* Four Indians and seven Indian microfinance companies make it to the Forbes list of Top10 world's wealthiest CEOs World's Top 50 Microfinance Institutions, respectively.
* India has the most number of private equity (PE) funds operating amongst the BRIC markets.
* Mumbai has been ranked tenth among the world's biggest centres of commerce in terms of the financial flow volumes by a survey compiled by MasterCard Worldwide.

Another significant aspect has been the broad-based nature of the growth process. While new economy industries like Information Technology and biotechnology have been growing around 30 per cent, significantly old economy sectors like steel have also been major contributors in the Indian growth process. For example, India has moved up two places to become the fifth largest steel producer in the world.

And with its manufacturing and service sectors on a searing growth path, Lehman Brothers Asia estimates India to grow by as much as 10 per cent every year in the next decade.

It is seen that the per capita income of india is on a rise the following report sums up the per capita income growth trends:

Along this significant acceleration in the growth rate of Indian economy, India's per capita income has increased at a rapid pace, exceeding an earlier forecast made by Goldman Sachs BRIC report which estimated India's per capita to touch US$ 800 by 2010 and US$ 1149 by 2015.

Per capita income has increased from US$ 460 in 2000-01 to almost double to US$ 797 by the end of 2006-07. In 2007-08, India's per capita income is estimated to be over US$ 825.07, according to the advance estimates of the Central Statistical Organisation (CSO). Further, India's per capita income is expected to increase to US$ 2000 by 2016-17 and US$ 4000 by 2025. This growth rate will, consequently, propel India into the middle-income category.

Global Acquisitions by indian firms puts India firmly on major economies

Tata Motors came into global limelight as an automobile major in early 2007 or even earlier when news of the cheapest world car was out of the tata's stable, Launch of tata nano (the $ 2500 car) turned all heds towards the tata motors and every major auto maker now want to replicate the same model but will never able to make a car even cheaper then the Tata's nano due to the cheapest input cost of nano, and the advantage with tata's is that they can use their own homemade steel for making the chasis of their vehicles which other companies have to purchase from other steel companies.
The launch of Tata Nano was much hyped so that the whole world notices the nano and Tata as a global automobile major with a surprise to come later in the year. the world never knew that the year 2007 was year of Tata Motors's brand acquisitions of the JAGUAR and LAND ROVER the iconic british car brands famous through out the world for their excellent cars in luxury car market.

Some still think that tats'a have played much bigger then they can by acquiring JAGUAR and ROVER car companies which were owned by the ford motor company of United states of America.

It may also be recalled that in 2007 the Toyota Motor Corporation surpassed General Motors to become World's number 1 automobile company. Now every car maker want to replicate the Toyota model to make their car company's revenue much larger and Tata's are no exception.

It took 3 decades for the japanese auto maker to enter into the luxury car market .

Toyota is the gold standard that aspiring auto-makers look to. Synonymous with Japanese quality, Toyota got to its premier position in the world auto stakes by a combination of production efficiency, high quality and delivering unsurpassed value to the customer. Toyota fans call a Honda, “a fake Toyota”, seemingly referring to Honda following in Toyota’s footprints and achieving similar status in terms of quality and value. Similarly while a growing company like Hyundai benchmarks its cars against Toyota competitors, a relatively “old-world” company like Volkswagen re-designed its production process based on inputs from Toyota engineers.

Still Toyota did not move beyond its economy and hence cheap image in the Western world till the introduction of its luxury brand, the Lexus. The strategy was such a success that other Japanese auto makers quickly jumped onto the bandwagon. The Lexus strategy had a curious side-effect on the overall Toyota bouquet of products. Unlike how the European companies built their luxury cars, Toyota continued to use the production line using strict quality control to drive efficiency. As a result the luxury cars did not cost significantly more than the regular line-up. While this revolutionized the luxury car market, it also worked wonders for its non-luxury line-up as the superior styling and finish of the luxury models began to rub-off on the rest of the portfolio.

Tata Motors has only taken baby steps towards becoming a global automaker. But the newly-acquired the availability of true luxury brands within the stable allows the company to learn what it takes to give its cars the aspirational value they need to succeed in the Western markets.

In addition to taking design lessons, Tata Motors can also benefit from the world-class R&D facilities, and an established global marketing network. Also while the Jaguar-Land Rover brand image will work wonders for Tata Motors’ own image, there is a danger that it would dilute the value of the British brands. So if the Tatas make it clear that they will treat the new companies as prized possessions that they will take pains to nourish and grow, while also using them as a huge opportunity to learn, then that should allay fears of brand dilution, while keeping the existing jobs and helping the Tatas as they build up their portfolio of vehicles to fill the gap between the SUVs and the luxury vehicles, in terms of both products and aspirational value.

So keep your fingers crossed and wait 2-3 years to see the technology of jaguar and rover brand embedded into indian made tata cars.

Diversified Indian Economy - Different Sectors of economy of India

A lot have changed in indian economy from the time since it got independence from the colonial rule in 1947. earlier much of the economic activities were controlled by the government itself and no major reforms were introduced in first 45 years of independence. However changes were made in early 90's under the government of Rajiv Gandhi and followed by Late PV narsimha Rao's Finance Minister Manmohan Singh(now Prime minister of India). This was time when liberalisation policies were introduced in indian economy and indian markets were opened for the foreign MNC's. since then there is no looking back for indian economy.

India's economy is diverse, encompassing agriculture, handicrafts, textile, manufacturing, and a multitude of services. Although two-thirds of the Indian workforce still earn their livelihood directly or indirectly through agriculture, services are a growing sector and play an increasingly important role of India's economy.

The advent of the digital age, and the large number of young and educated populace fluent in English, is gradually transforming India as an important 'back office' destination for global outsourcing of customer services and technical support. India is a major exporter of highly-skilled workers in software and financial services, and software engineering. Other sectors like manufacturing, pharmaceuticals, biotechnology, nanotechnology, telecommunication, shipbuilding, aviation , tourism and retailing are showing strong potentials with higher growth rates.

However, since the early 1990s, India has gradually opened up its markets through economic reforms by reducing government controls on foreign trade and investment. The privatisation of publicly owned industries and the opening up of certain sectors to private and foreign interests has proceeded slowly amid political debate.

India faces a fast-growing population and the challenge of reducing economic and social inequality. Poverty remains a serious problem, although it has declined significantly since independence.

Infrastructure Sector, Finance Sector Updates | Indian Economy Updates | India Economic News

Indian Economy Latest Updates :

April 2008 Infrastructure Sector Latest Updates:

• Tata's Nano model for apparel may see $ 3bn take rural roads - (19/4/2008)
• Greaves Cotton inks deal with German co - (19/4/2008)
• Arunachal Pradesh set to have world-class infrastructure - (17/4/2008)
• Trucking sector may attract Rs 2 tn investments by 2010 - (17/4/2008)
• Policy on greenfield airports soon: Patel - (17/4/2008)
• 3i beats target to raise $1.2 bn for India Infrastructure Fund - (17/4/2008)
• Korean cos keen to set up hub in Haryana - (16/4/2008)
• World's 2nd discovery park to come up in India - (15/4/2008)
• MMTC to set up chain of warehouses, gems, jewellery SEZ - (14/4/2008)
• GVK may spin off energy business into separate co - (14/4/2008)
• India-Oman plan JV for core projects - (14/4/2008)
• Indus to buy Rs 206 crore equity in Uppal SEZs - (14/4/2008)
• Govt expects exports from SEZs to touch Rs 125,000 cr in FY'09 - (11/4/2008)
• J & K govt spends Rs 15 crore on road upgradation project - (11/4/2008)
• Govt to set up regulator for construction industry - (10/4/2008)
• Delhi govt approves 3-level grade separator on NH-4 - (8/4/2008)
• Mantri, IL&FS to develop IT SEZ at Nagpur - (7/4/2008)
• No takers for Rs 4,000-cr government aid
• Nagaland signs 2 pacts with Korean co
• Core sector grows by 8.7% in February
• Chopper Class: Govt plans airports for helicopters
• Green tilt in energy balance
• Nagarjuna, Maytas Infra to develop Karnataka airports
• IVRCL bags orders worth Rs 484 cr
• India set to sign transport project agreement with Myanmar

Indian Economy - Finance Updates April 2008 :

• PE deals fall apart in M&A Street
• MBGB exceeds Rs 2 cr business per employee target: CMD
• Azad takes up sop exemption issue with PM
• CRR hike would put upward pressure on interest rates: PHDCCI
• Punjab, Haryana project Rs 650 cr loss due to CST cut
• J&K to sanction Rs 207 lakh subsidies to 32 industrial units
• FDI outflow doubles to $18 bn during Apr-Dec
• Home, retail loan rates likely to rise following CRR hike
• Bankers to wait till RBI policy before taking call on rates
• RBI hikes CRR by 0.5 per cent to control inflation
• India's FY-08 indirect tax receipts at Rs 2.79 tn
• FIIs cut exposure in Indian equity markets
• US Eximbank approves $2.2 billion program for India
• I&B ministry gets Rs 1,910 crore for the current fiscal
• A repo rate hike by RBI likely, says BoI chief
• Fertiliser subsidy bill to rise to Rs 1 lakh crore: Paswan
• Haryana collects Rs 10,000 crore as taxes last fiscal
• Banks in a spot as govt sits on crop-loan interest subsidies
• Capital goods sector earnings may slowdown in Q4: Analysts
• Banks board slow coach as credit growth slips to 24% in 2007-08
• Coal India pays Rs 1,705.42 cr dividend to govt
• Direct tax collections surpass target in West Bengal region
• Overseas borrowings drop to less than $1 bn in February - (9/4/2008)
• NABARD Focus paper estimate credit flow of Rs.37,546 crores - (8/4/2008)
• Finance Ministry approves new Rs 50,000 cr APDRP scheme - (8/4/2008)
• Foreign fund restrictions to boomerang: Raghuram panel
• Grant Rs 5,000 cr for setting up SEZs in JK: Assocham
• CRR hike may leave banks with little to lend
• 10 lakh backward class families benefit from NBCFDC loans
• JPMorgan's John Coyle joins Permira
• Indian investors get more room to diversify abroad
• WB, ADB may lend directly to urban bodies
• India raises overseas investment limit for funds
• 'India needs $500 nn investment to sustain growth'
• Centre releases Rs 65 cr to revive lakes in J&K
• Refund claims may rise on derivatives losses
• 'India important source of FDI in US'
• Microcredit raises hopes for farm widows
• Retail sector may get service tax relief
• BJP seeks Rs 1,000 cr relief package from Centre
• CST phaseout to miss deadline
• Repo rate, CRR hike on cards
• DA announced for Punjab employees

Indian Economy Updates | Latest agriculture / trade News

April 2008 Indian Economic Updates :

Agriculture April 2008 Latest Updates :

• Mizoram govt distributes paddy seeds to farmers free of cost - (18/4/2008)
• Govt pressed to compensate farmers - (17/4/2008)
• Karuturi Global to buy Dutch firm Florinex - (17/4/2008)
• Rs 25kcr plan to boost farm output: Pawar - (16/4/2008)
• Poll-bound states likely to put stock limits on wheat - (16/4/2008)
• Rain & hail may set wheat prices on fire - (15/4/2008)
• Agriculture needs investments to handle supply issues: IDBI - (15/4/2008)
• Govt may meet wheat target as pvt players shy away from buying - (14/4/2008)
• 20 farm suicides in three days in Vidarbha - (13/4/2008)
• Need to raise loan waiver upto 10 hectares farm land:Coop body - (13/4/2008)
• Potato farmers struck by distress sale - (13/4/2008)
• Expert expects potato prices to stabilise at Rs 5-6 a kg - (13/4/2008)
• Maharashtra's sugar output to dip by 6%, export up by 42% - (13/4/2008)
• Efforts being made to get more rice from central pool, AP - (12/4/2008)
• Haryana to launch campaign for seed treatment - (12/4/2008)
• Cashew corp to launch health drink, soup - (12/4/2008)
• Govt may allow premium non-basmati exports: Exporters - (11/4/2008)
• Country needs higher pulses imports in FYO9: Trader - (11/4/2008)
• Basmati seen steady in tight market - (11/4/2008)
• World sugar prices seen at 12-15 cents/lb: ISO - (11/4/2008)
• Big cos may prefer MP, Rajasthan to Punjab for wheat lifting - (10/4/2008)
• NABARD gears up to start farmers' loan waivers by June - (9/4/2008)
• Rs 393.33 cr in crops lost due to Kerala rains - (8/4/2008)
• 2008 wheat output to top 75 mn tonnes - (8/4/2008)
• Govt not to raise wheat procurement price: Pawar - (7/4/2008)
• Orissa govt to soon declare new agriculture policy - (7/4/2008)
• Untimely rains may hit mango production, price rise likely - (6/4/2008)
• Wheat crop under threat as widespread rain lashes region - (6/4/2008)
• FAO predicts increased rice production in Asian countries - (3/4/2008)
• Soaring food prices to help farmers - (2/4/2008)
• Non-basmati export ban decision hasty: Exporters - (2/4/2008)
• Higher wheat crop globally to check prices - (2/4/2008)
• Changing food habits fuelling demand for wheat: Pawar - (1/4/2008)
• MNRE submits draft composition for National Biofuel Dev Board - (1/4/2008)
• Punjab govt announces Rs 16.35 crore relief for farmers - (1/4/2008)
• Mango production to go up 12 pc this year- (31/3/2008)

April 2008 Trade with Foreign Updates :

• India wants better connectivity with Bangladesh - (20/4/2008)
• Trilateral alliance not aimed at creating power bloc: India - (19/4/2008)
• Canada calls for stronger economic ties with India - (19/4/2008)
• India wants two-way trade with US: Ronen Sen - (19/4/2008)
• US small business agency to promote exports to India - (19/4/2008)
• US housing slump hits India's furniture exports - (19/4/2008)
• India to import 80 lakh tons of urea this year: Paswan - (18/4/2008)
• India, Mexico sign agreements in civil aviation, energy - (18/4/2008)
• WTO ministerial on May 19 to help wrap up Doha talks - (18/4/2008)
• India questions US legislation on scanning all imports - (17/4/2008)
• Indo-US business unaffected by rupee rise, sub-prime crisis - (10/4/2008)
• Indo-Malaysia trade opportunities galore - (10/4/2008)
• Schemes to be launched for promoting ornamental fish export - (9/4/2008)
• India, UK SMEs eye tie-ups ahead of Commonwealth, Olympics - (9/4/2008)
• Russia seeks enhanced economic ties with India - (9/4/2008)
• India to export about 2.1 mlnT of corn by May '08 - (9/4/2008)
• Oilmeals export earning jumps 65% to Rs 7,109 cr in FY'08 - (8/4/2008)
• India, Kazakhstan to get into projects-specific mode in oil sector - (8/4/2008)
• There's tremedous potential for growth of US-India trade: US - (8/4/2008)
• India's ties with Africa distinct from others - (7/4/2008)
• EU, US renew pressure on India's import ban on animal products - (7/4/2008)
• India-Africa trade can touch $50 billion by 2012: FICCI survey - (7/4/2008)
• Govt to facilitate cement import from Pakistan - (7/4/2008)
• Cross-border Indo-Pak trade along LOC on the anvil - (7/4/2008)
• Exporters should change biz models,cut dependence on govt: Survey - (6/4/2008)
• Seafood exports from India registers 12 pc fall - (5/4/2008)
• WTO calls off Doha trade meeting planned for April - (5/4/2008)
• Qureshi hints at reassessing no-Indian investment policy - (4/4/2008)
• CSEZ achieves 70 per cent growth in exports - (4/4/2008)
• 'India-Africa summit will boost South-South cooperation' - (4/4/2008)
• Govt withdraws sop on basmati rice export to check inflation - (4/4/2008)
• India, Myanmar inks double taxation avoidance treaty - (3/4/2008)
• US embarking on global energy ties with India - (3/4/2008)
• India agrees to supply rice to crisis ridden Sri Lanka - (3/4/2008)
• India asks developed nations to end protectionism - (3/4/2008)
• India sugar exports to fall in next crop year: LMC - (3/4/2008)
• India-Australia tie-up on cards for flexible GI shield - (3/4/2008)
• Sugar exports to dominate trade conference - 1/4/08

Inflation to soar further, likely to touch 7.5 % mark

ASSOCHAM on Saturday predicted that it would continue to soar for next three to four months, and may even touch the 7.5 per cent mark.

"The Wholesale Price Index (WPI) based inflation rate which is already at the highest in the last three years, could even surpass the 7.5 percent mark," predicts ASSOCHAM President Venugopal Dhoot.

In order to check inflation, the Cabinet Committee on Prices (CCP) chaired by Prime Minister Manmohan Singh on Monday, decided to abolish import duty on all crude edible oils, including palm and soya, and banned the export of non-basmati rice and pulses to contain inflation.

The Central Government also decided to raise the Minimum Export Price of basmati rice to 1,200 dollars per ton from 1100 dollars, to balance the demand " supply in the domestic market and to cut import duty on butter and clarified butter (ghee) from 40 per cent to 30 per cent, besides, the 15 per cent import duty on maize was abolished, applicable on import of up to five lakh tons.

The CCP also advised states to impose limits on stocks of commodities under the Essential Commodities Act, besides asking steel producers not to raise prices.

The study done by the business conglomerate also reveals that the Central Government's efforts to contain inflation will come start-yielding results by August when inflation is likely to fall at of four per cent.

Experts believe that after all possible measures taken by the government, now, everyone is waiting for Reserve Bank of India's (RBI) annual credit policy that will be revealed on April 29.

The industry body has asked the RBI to increase the interest rates, specifically the Cash Reserve Ratio (CRR) to restrain liquidity.

The problem of inflation doesn't seem to be India-centric with China too struggling with a rising inflation rate of over nine percent.

According to analysts, the announcement of Sixth Pay Commission recommendations, and provisions for enhanced expenditure on social sectors in the Budget 2008-09 coupled with rising crude oil prices have also raised expectations about high inflation.

Indian Economy - Rupee v/s US $ daily trends - April 2008

Daily rupee trends against US $ date wise for april 2008 (at stock market closing time):

24/4/2008 : (Rs v/s US $) - 39.95 - Down(-0.01)

19/4/2008 : (Rs v/s US $) - 39.96 - Down(-0.17)

17/4/2008 : (Rs v/s US $) - 39.79 - Up^0.16

16/4/2008 : (Rs v/s US $) - 39.95 - Down(-0.11)

15/4/2008 : (Rs v/s US $) - 39.84 - (No change)

14/4/2008 : (Rs v/s US $) - 39.84 - Up^0.10

11/4/2008 : (Rs v/s US $) - 39.94 - Down(-0.10)

10/4/2008 : (Rs v/s US $) - 39.84 - Up^0.18

9/4/2008 : (Rs v/s US $) - 40.02 - Up^0.09

8/4/2008 : (Rs v/s US $) - 40.11 - Down(-0.14)

7/4/2008 : (Rs v/s US $) - 39.97 - Up^0.06 (wrt 6/4/08 rates)

4/4/2008 : (Rs v/s US $) - 39.97 - Up^0.11

3/4/2008 : (Rs v/s US $) - 40.08 - Down(-0.09)

2/4/2008 : (Rs v/s US $) - 39.99 - Down(-0.02)

1/4/2008 : (Rs v/s US $) - 39.97 - Up^0.14