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)

Rupee posts biggest fall in a decade v/s US $

The rupee posted its biggest fall in a decade on Tuesday, hit by risk aversion and banks arbitraging a weaker offshore rate, although suspected central bank intervention stopped the slide just short of 47 per dollar.

The partially convertible rupee ended at 46.89/90 per dollar, off a trough of 46.99 which was its lowest since July 24, 2006.

The rupee fell 1.8 percent from its close of 46.05/06 on Monday, its biggest fall since May 14, 1998, according to Reuters daya, when the currency fell 2 percent after sanctions were imposed on India for its nuclear testing. One-month offshore non-deliverable forward contracts were quoting at 47.15/25, weaker than the onshore rate, indicating a bearish near-term outlook for the rupee.

That also created an arbitrage opportunity, where the dollar is bought against the rupee in the onshore market and sold in the offshore NDF market to exploit the price differential. "There are no (dollar) sellers in the market apart from the central bank. There is lot of oil, equity and NDF-related dollar demand, and even importers are covering near-term imports," said Madhusudan Somani, associate director of financial markets at Yes Bank.

"The rupee may test 47.20-25 levels in the near term," he added. Dealers said the central bank was seen selling dollars to halt the rupee's sharp decline, but sales were offset by demand for the US currency. At its low on Tuesday, the rupee was down 6.5 percent in September and more than 16 percent in 2008. Dealers estimated the central bank had sold $1.5-$2 billion to put a floor under the rupee on Tuesday.

Indian shares pulled out from a nosedive to end almost level on Tuesday after they had opened down 3.5 percent. Capital outflows from the local shares so far in 2008 total a net $8.4 billion, including $1 billion in September, a sharp turnaround from a record net inflows of $17.4 billion in 2007.

Traders said broad strength in the dollar versus other currencies overseas was also hurting sentiment on the rupee. The dollar steadied near 4-month lows versus the yen on Tuesday, but held gains against high yielders as investors took refuge in safe-haven assets following the collapse of Lehman Brothers.

Indian Economy Updates Rs v/s $ daily trends - March 2008

Daily rupee trends against US $ month wise (at stock market closing time):

31/3/2008:(Rs v/s US $) 40.11 - (Up^0.04) - with respect to 28/3/2008 rate

28/3/2008:(Rs v/s US $) 40.15 - (Down -0.08)

27/3/2008:(Rs v/s US $) 40.07 - (Up^0.05)

26/3/2008:(Rs v/s US $) 40.12 - (Up^0.22)

25/3/2008:( Rs v/s US $) 40.34 - (Down -0.05)

24/3/2008:( Rs v/s US $) 40.29 - (Up^0.16)

19/3/2008:( Rs v/s US $) 40.62 - (Up^0.15)

18/3/2008:( Rs v/s US $) 40.77 - (Down -0.32)

17/3/2008:( Rs v/s US $) 40.45 - (Up^0.01)

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)

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)

Annual India Economy Update (January 2007-January 2008)

Annual India Economy Update: well all the readers of this post would be surprised about the time duration of this annual India Economy Update as it is not based on Financial year which starts in India in March every year but rather it is based on the US financial year which begins in January and ends in december every year on the new year and is according to the Earth's revolutions around sun.

Economy of India in past 1 year has grown at around 8.7% this year which is very healthy rate but is behind the economy growth rate of China which stands at around 11% for same period.

India Economy's growth rate in 2007 remained lower when compared to the growth rate of the previous year but the stock markets remained in constant bull run through out the year with both sensex and Nifty touching new highs. Bombay Stock Exchange managed to rank itself in top 10 stock markets of world in market capitalisation.

Foreign Investors showed a lot of trust in Indian rupee and hence the foreign direct investments reached a new record this year and the trend would continue for next couple of years too.

Indian rupee grew at around 5% in 2007 and hence a lot of exporters were affected as they did not do proper hedging of dollar for minimising the impact of the deteriorating dollar.

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 .

Indian rupee as new Global Economy

Hi Everyone!
Post your views about when can you see Indian Rupee as new global economy as powerful as the US dollar which is presently the strongest economy in the world. Indian economy is growing and hence it has very bright future prospects. HOW DO YOU FEEL ABOUT IT????
There are various questions which need to be answered for making indian rupee achieve this feat.
some of them are:

1. What should be done for increasing the growth percent of economy at the same pace as China is growing??

2. What can India learn from the chineese economy and the policies of government there ?

3. Can Indian government policies achieve economy growth of over 11%??

There are several steps that Indian government need to take such as making strict rules as the government of China has made for using the huge man power in right proportion as required by different industry sectors. India is lacking this very ingredient as government is not able to divide the man power required by different industry sectors in right proportion hence there is surplus man power available in one sector but scarcity in another sector. India is boasting of itself majorly on services sector which i think is a superficial sector and is more or less governed by growth of manufacturing sectors so more emphasis should be made on the Hard core manufacturing sectors like automobile,steel, heavy machinary industry etc which determines the right growth of the country.
So basically i want to say is that the man power should be rightly divided in correcr proportion so that the saying "INDIA IS LAND OF 1 BILLION + OPPURTUNITIES" is felt as correct saying.

IF U HAVE SUGGESTIONS FOR THIS TOPIC DO POST YOUR COMMENTS !!

like SHOULD INDIA CHANGE IT'S ECONOMY MODEL SIMILAR TO THAT OF CHINA???
not fully but to some extent as possible.

one thimg is sure that growth of country is governed by growth in manufacturing sector rather than growth in services sector....

so what are you waiting for!!! Start posting your comments and let people know about your views and suggesions about the same!

Thanks,
Himanshu

Growing India Rupee-India Economy

Hi Everyone!
India is second fastest growing economy of the 21st century with annual growth pegged at ~9% for the year 2008. How do you all feel about it ??
Post your comments whether government would be able to take measures in order to sustain same pace of growth for coming years or do you think some immediate steps should be taken in order to carry on the growth rate which is result of economic reforms introduced by the then Finance minister Sardar Manmohan Singh in post 1991 Parliament.
There are several moves which can be encouraged further like:

1. Encouraging more Public Private partnership(ppp) investments.

2. Some concrete steps to control corruption at higher level due to which whole country is affected.

3. Providing management training to the MP's which are elected for first time as in case of Industrial training provided to software freshers by various companies.

Well different brains can give different better ideas so what are you all indians waiting for START POSTING NOW!!!!
This small effort by all true indians may be helpful to our motherland and if implemented we can see a developed India much Early as these Blogs can help in increasing the growth percent of economy to over 10% EVEN MORE THEN CHINA!!!

Your small effort can work wonders for a growing economy like India