US $ v/s rs daily updates - January 2009

Indian economy trends are very important for those who are into economic analysis in India, Indian National rupee popularly known as INR in international market is following a downward trend due to global financial turbulance. As volume of US dollars (USD) in international markets is on a decline so the value of US $ is growing up, well indian IT industrycan feel better to some extent and is the only industry which would be getting a plus from current market scenario.

The post would include (US$ v/$ rupee) daily trends the rate shown of Indian rupee would be as displayed at time of stock markets closure(mainly BSE and NSE) you can also see daily Stock market live rates and closing rates.

INR(Indian National rupee) v/s US$ November trends/updates are as follows:

format for display of rs v/s $ would be in following order:

(date | RS v/s $ rate Daily trends updates | Remarks with respect to US $)


28/1/2009 | 48.85 | Up^0.34 | Rupee (INR) grew stronger by 34 paise wrto US $

22/1/2009 | 48.56 | - | Rupee (INR) fell weaker by - paise wrto US $

21/1/2009 | 48.56 | Down(0.00) | Rupee (INR) fell weaker by - paise wrto US $

20/1/2009 | 48.56 | Up^0.21 | Rupee (INR) grew stronger by 21 paise wrto US $

19/1/2009 | 48.77 | Up^0.31 | Rupee (INR) grew stronger by 38 paise wrto US $

16/1/2009 | 49.08 | Down(0.38) | Rupee (INR) fell weaker by 38 paise wrto US $

15/1/2009 | 48.70 | Up^0.10 | Rupee (INR) grew stronger by 10 paise wrto US $

9/1/2009 | 48.61 | Up^0.07 | Rupee (INR) grew stronger by 7 paise wrto US $

7/1/2009 | 48.68 | Down(0.31) | Rupee (INR) fell weaker by 31 paise wrto US $

2/1/2009 | 48.73 | Down(0.23) | Rupee (INR) fell weaker by 23 paise wrto US $

1/1/2009 | 48.50 | Up^0.05 | Rupee (INR) grew stronger by 5 paise wrto US $

RS v/s US $ - December updates - India economy

Indian economy trends are very important for those who are into economic analysis in India, Indian National rupee popularly known as INR in international market is following a downward trend due to global financial turbulance. As volume of US dollars (USD) in international markets is on a decline so the value of US $ is growing up, well indian IT industrycan feel better to some extent and is the only industry which would be getting a plus from current market scenario.

The post would include (US$ v/$ rupee) daily trends the rate shown of Indian rupee would be as displayed at time of stock markets closure(mainly BSE and NSE) you can also see daily Stock market live rates and closing rates.

INR(Indian National rupee) v/s US$ November trends/updates are as follows:

format for display of rs v/s $ would be in following order:

(date | RS v/s $ rate Daily trends updates | Remarks with respect to US $)

31/12/2008 | 48.50 | Up^0.26 | Rupee (INR) grew stronger by 26 paise wrto US $

30/12/2008 | 48.76 | Down(-0.87) | Rupee fell by 87 paise wrto US $

29/12/2008 | 47.89 | Up^1.10 | Rupee (INR) grew stronger by 110 paise wrto US $

17/12/2008 | 47.33 | Up^0.49 | Rupee (INR) grew stronger by 49 paise wrto US $

16/12/2008 | 47.98 | Up^0.58 | Rupee (INR) grew stronger by 58 paise wrto US $

15/12/2008 | 48.52 | Up^0.19 | Rupee (INR) grew stronger by 19 paise wrto US $

12/12/2008 | 48.52 | Up^0.60 | Rupee (INR) grew stronger by 60 paise wrto US $

10/12/2008 | 49.22 | Up^0.47 | Rupee (INR) grew stronger by 47 paise wrto US $

8/12/2008 | 49.69 | Up^0.10 | Rupee (INR) grew stronger by 10 paise wrto US $

6/12/2008 and 7/12/2008 saturday and sunday resp (8/12/2008 rates are wrto 7/12/2008)

5/12/2008 | 49.69 | Up^0.21 | Rupee (INR) grew stronger by 21 paise wrto US $

4/12/2008 | 49.90 | Up^0.62 | Rupee (INR) grew stronger by 62 paise wrto US $

3/12/2008 | 50.52 | Down(-0.43) | Rupee fell by 43 paise wrto US $

Rs v/s US $ - November 2008 - daily updates

Indian economy trends are very important for those who are into economic analysis in India, Indian National rupee popularly known as INR in international market is following a downward trend due to global financial turbulance. As volume of US dollars (USD) in international markets is on a decline so the value of US $ is growing up, well indian IT industrycan feel better to some extent and is the only industry which would be getting a plus from current market scenario.

The post would include (US$ v/$ rupee) daily trends the rate shown of Indian rupee would be as displayed at time of stock markets closure(mainly BSE and NSE) you can also see daily Stock market live rates and closing rates.

INR(Indian National rupee) v/s US$ November trends/updates are as follows:

format for display of rs v/s $ would be in following order:
(date RS v/s $ rate Daily trends updates Remarks with respect to US $)

(November 28,2008) | RS v/s $ | 49.85 | Up^0.12 | grew stronger by 12 paise/US $

(November 25,2008) | RS v/s $ | 50.09 | Down(-0.06) | weaker by 6 paise/US$

(November 24,2008) | RS v/s $ | 50.03 | Up^0.49 | grew stronger by 0.49 paise

(November 21,2008) | RS v/s $ | 50.52 | Down(-0.78) | weaker by 78 paise/US$

(November 20,2008) | RS v/s $ | 49.74 | Down(-0.06) | weaker by 06 paise/US$

(November 19,2008) | RS v/s $ | 49.68 | Down(-0.69) | weaker by 69 paise/US$

(November 18,2008) | RS v/s $ | 48.99 | Up^0.47 | grew stronger by 0.47 paise

(November 17,2008) | RS v/s $ | 49.46 | Up^0.67 | grew stronger by 0.67 paise

(November 14,2008) | RS v/s $ | 48.79 | - | No change wrto previous day

(November 13,2008) | RS v/s $ | 48.79 | Down(-1.20) | weaker by 120 paise/US$

(November 12,2008) | RS v/s $ | 47.59 | Down(-0.27) | weaker by 27 paise

(November 11,2008) | RS v/s $ | 47.32 | Up^0.44 | grew stronger by 0.44 paise

(November 7,2008) | RS v/s $ | 47.68 | Down(-0.50) | weaker by 50 paise

(November 6,2008) | RS v/s $ | 47.18 | Up^1.44 | grew stronger by 144 paise

(November 5,2008) | RS v/s $ | 48.62 | Up^0.34 | grew stronger by o.34 paise

(November 4,2008) | RS v/s $ | 48.96 | Up^0.29 | Rupee became stronger by 2%

(November 3,2008) | RS v/s $ | 49.25 |Up^0.00 | No change

Also see:
October 2008 Rs v/s US $ trends

Rs v/s US $ - Daily updates

Indian National rupee popularly known as INR in international market is following a downward trend due to global financial turbulance. As volume of US dollars (USD) in international markets is on a decline so the value of US $ is growing up, well indian IT industrycan feel better to some extent and is the only industry which would be getting a plus from current market scenario.

The post would include (US$ v/$ rupee) daily trends the rate shown of Indian rupee would be as displayed at time of stock markets closure(mainly BSE and NSE) you can also see daily Stock market live rates and closing rates.

INR(Indian National rupee) v/s US$ October trends/updates are as follows:

format for display of rs v/s $ would be in following order:
(date | RS v/s $ | rate | Daily trends updates)


(October 31,2008) | RS v/s $ | 49.77 | Down(-49.77)


(October 30,2008) | RS v/s $ | 49.67 | Up^0.21


(October 29,2008) | RS v/s $ | 50.09 | Down(-0.14)


(October 27,2008) | RS v/s $ | 49.95 | Down(-0.16)

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

RS v/s Dollar February 2008 trends

Day/Date/Conversion Price(1 dollar in INR)/Remarks: (All enteries would be in same sequence respectively):
FRIDAY/29-2-2008/39.81 - Down(-0.08) (at stock market closing)

THURSDAY/28-2-2008/39.73 - Up^0.18 (at stock market closing)

WEDNESDAY/27-2-2008/39.91 - Up^0.14 (at stock market closing)

TUESDAY/26-2-2008/40.05 - Down(-0.07) (at stock market closing)

MONDAY/25-2-2008/39.98 - Up^0.09 (at stock market closing time)

FRIDAY/22-2-2008/40.07 - Up^0.07 (at stock market closing time)

THURSDAY/21-2-2008/40.15 - Down(-0.28) (at stock market closing time)

WEDNESDAY/20-2-2008/39.87 - Down(-0.21) (at stock market closing time)

TUESDAY/19-2-2008/39.66 - No Change (at stock market closing time)

MONDAY/18-2-2008/39.66 - Down(-0.01) (at stock market closing time)

FRIDAY/15-2-2008/39.65 - Up^0.03 (at stock market closing time)

THURSDAY/14-2-2008/39.68 - Down(-0.03) (at stock Market closing time)

WEDNESDAY/13-2-2008/39.65 - Up^0.08 (at 4:33 pm IST)

TUESDAY/12-2-2008/39.73 - Down(-0.18) (at stock market closing time)

MONDAY/11-2-2008/39.55 - Down(-0.07) (at stock market closing time)

FRIDAY/8-2-2008/39.48 - Up^0.12 (at stock market cloosing time)

THRUSDAY/7-2-2008/39.60 - Up^0.23 (at stock market closing time)

WEDNESDAY/6-2-2008/39.43 - Up^0.40 (at stock market closing time)

TUESDAY/5-2-2008/ 39.83 - Down(-0.47) (at stock market closing time)

US Economy Slowdown and it's effects on Indian Economy

A string of foreign banks hit by the crisis have started selling down Indian papers in the overseas market at distressed rates. In some cases, banks have refused to honour credit lines they had earlier promised. But even as corporates are reeling under the increased financing costs for their deals, some Indian banks are picking up these papers at distressed rates.One of the assets, which a few foreign banks are in a haste to sell down, is the Hindalco bridge loan, which the company had taken to acquire the Canadian firm Novelis.

Banks, which gave the loan at 61 bps above Libor, are now in the market to sell it at Libor plus 150-180 bps. Banks want to offload papers before December 31 to free their capital. Such loans, primarily for acquisition financing, are given directly by the banks, with an internal understanding that the assets would be palmed off over the next two to three months. However, because of the sub prime crisis, many of these banks were unable to get any buyer for the Indian papers. This has resulted in banks offering to sell these papers at a cheaper price. Banks have country limits and also client limits. Some banks have exceeded these limits and due to the liquidity crunch are finding it difficult to sell down these assets to other foreign banks. This has given a few Indian banks the opportunity to buy these papers.

Significantly, most foreign banks are not adding to their asset book in order to keep capital free. According to sources, a large US bank has stopped issuing letters of credit to Indian customers. It has also stopped disbursing loans to new customers. Bank officials have been told to postpone disbursals till the New Year. The urgency to prune corporate loans emanate from similar capital concerns. A couple of other corporate loans have also been sold off in the past couple of months at 15-25 bps discounts. Recently, in a deal where an Indian chemical firm was taking over an US company, the foreign bank backed out of the financing deal at the last moment. The deal was finally financed by another foreign bank.

A major US bank and a couple of European banks are said to be have been affected by the crisis. According to senior bankers, Indian banks, like ICICI Bank and SBI, have been picking up papers issued by Indian companies. A few Taiwanese and Middle East banks have also been buying these papers. However, ICICI Bank which did large dollar borrowing this year has committed new loans of around $2 billion in the past one month. Corporates are also facing the heat as borrowing costs have doubled in the past few months. Bankers point out that in many transactions, Indian corporates have now started asking Indian banks to be in the deal as they feel that some foreign banks may back out if credit woes deepen.

Source: economic times

Rupee v/s Dollar January 2008 Trends

Day/Date/Conversion Price(1 dollar in INR)/Remarks: (All enteries would be in same sequence respectively):

THURSDAY/31-01-2008/39.43/ Down 0.03 ( at 5:42 pm IST)

WEDNESDAY/30-01-2008/39.40/ Up^0.07 ( at 8:31 pm IST)

TUESDAY/29-01-2008/39.47/ Down 0.07 (at stock market close)

MONDAY/28-01-2008/39.40/ Up^0.03 (at stock market closing time)

26-01-2008, 27-01-2008 (Markets closed saturday and sunday resp.)

FRIDAY/25-01-2008/39.43/ Up^0.13 (at stock market closing time)

THURSDAY/24-01-2008/39.56/ Down 0.18 (at stock market closing time)

WEDNESDAY/23-01-2008/39.38/ No Change (at stock market closing time)

TUESDAY/22-01-2008/39.38/ Down 0.11 (at stock market closing time)

MONDAY/21-01-2008/39.27/ up ^0.02 (at stock market closing time)

FRIDAY/18-01-2008/39.29/ Down 0.02 (at stock market closing time)

THURSDAY/17-01-2008/39.27/ No Change (at stock market closing time)

WEDNESDAY/16-01-2008/39.27/ up ^0.02 (at stock market closing time)

TUESDAY/15-01-2008/39.29/ No Change (at stock market closing time)

MONDAY/14-01-2008/39.29/ No Change ( at stock market closing time)

FRIDAY/11-01-2008/39.29/ No Change (at stock market closing time)

THURSDAY/10-01-2008/39.29/ Down 0.02 (at stock market closing time)

WEDNESDAY/9-01-2008/39.27/ up ^0.01 (at stock market closing time)

TUESDAY/8-01-2008/39.28/ up ^0.04 (at stock market closing time)

MONDAY/7-01-2008/ 39.32/ no change (at stock market closing time)

SATURDAY/5-01-2008/39.32/ up ^0.13 (at stock market closing time)

FRIDAY/4-01-2008/39.45/ Down - 0.02 (at stock market closing time)

THURSDAY/3-01-2008/39.43/ Down - 0.01 (at stock market closing time)

WEDNESDAY/2-01-2008/39.42/ up ^0.01 (at stock market closing time)

Daily Rupee Updates-Rupee V/S Dollar daily price

India Economy is Growing daily and Indian Rupee has made it's position strong so i thought to publish daily dollar price after conversion to Indian Rupee. So that every one can know about the present trends of Indian Rupee and hence Indian Economy. However it is not possible for me to update the value hourly so the rates would be after the stock market transactions end for te day, later on i can provide you with hourly updates on India Economy. for time being the latest updates would be at around 6:00 pm IST daily.

Day/Date/Conversion Price(1 dollar in INR)/Remarks: (All enteries would be in same sequence respectively):

MONDAY/31-12-07/ 39.29/ up ^ 0.14 (at 6:40 pm IST)

FRIDAY/28-12-07/39.43/ up ^0.14(at 6.58 pm IST)

WEDNESDAY/26-12-07/39.57/down 0.20(at 7:23 pm IST)

TUESDAY/25-12-07/39.37/down 0.01(at 11:00pm IST)

MONDAY/24-12-07/39.36/down 0.02(at 6:00pm IST)

SUNDAY/ 23-12-07/39.34/down 0.06(at 8:59 pm IST)

FRIDAY/ 21-12-07/39.29/ up^0.26 (at 7:04 pm IST)

THURSDAY/ 20-12-07/39.55/ up^0.02

WED/ 19-12-07/ 39.57/ no change

Economy of India

Indian Economy is the second fastest growing major economy of the world. In 2007 the value of indian economy is measured to be ~1.10 trilion USD. Indian Economy is majorly dependent on agriculture and about 2/3rd of total indian population is still thriving on agriculture sector which is still not automated and majority of agricultural activities are done manually, growing indian population is a major hurdle in smooth growth of the indian economy.
Earlier there was strict government control over all the economic activities but after the liberalisation of indian economy in 90's during the Congress Rule headed by Late P.V.Narsimha Rao and present prime minister Sardar Manmohan Singh(the then finance minister in Narsimha Rao government). hence indian economy became much free and many major MNC's started to tap the potential Indian Market. It was also the same time when indian companies started making global presence and moved out of the indian subcontinent for new markets hence expanding themselves from regional companies to indian MNC's . It was also time when Reliance Industries headed by Late Mr. Dhirubai Ambani earned huge profits and made his company a global company and indian second largest business house just next to the legacy of TATA's.
Earlier there was strict government control over private companies. but after liberlisation of the indian economy the business houses started expanding on their own and are now giving stiff compitition to similar companies of the west with added advantage of cheap labour. Indian Services industry lead by Tata Consultancy Services, Infosys, Wipro, Satyam etc. are also making their mark globally and finally world has come to know the ppower of indian intellectuals the biggest example is Indra Nooyi becoming CEO of Pepsico USA.

Growing Indian economy however has become now a matter of concern for indian I.T. Industry since Indian I.T. Industry is dependent on the rate of U.S. dollar. In the past one year or so Indian Economy has grown about 10% with respect to the U.S. dollar. Stagnation in economy of United States and at the same time the growth in Indian economy has affected the software services sector and the export sector adversly. many of the small exporters have lost lacs of rupees due to growing indian economy. Since small exporters do not use hedging techniques for minimizing the adversity of the growth in indian economy their business is suffering a lot hence government need to intervene now in order to check the present rate of the U.S. Dollar. thus helping indian exporters. Indian software industry which comprises of Tata Consultancy Services, Infosys, Wipro Technology, Satyam Computer Services, HCL etc need to negotiate their contract rates again with the out sourcing firms so that they can maintain the same growth which was prevelant when dollar was in mid 40's when converted to indian rupee. Due to growing indian economy the share prices of the top five services companies are on a steady decline fromthe last 1 year where as the share prices of similar USA copanies like IBM, Perot Systems have grown in the same period.

If the Indian Economy continues to grow at the same rate of about 9% per year than the day is not far when the booming indian I.T. Industry will have to be relocated outside India on a weaker economy country so that the cost benefit can be a plus for indian services industry.

Reserve Bank of India has taken various steps for controlling the growth in indian economy but these steps help temporarily and not are permanent solution .