Indian currency exchange rate - why going down.
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Posted on: 09-11-11 10:13:29
Why is it going this bad... if the economy is picking it up, I was expecting more and more INR investment to firm up the currency.
Despite all NRI / NRE investment, the exchange value still goes down the drain.. Going at this rate, in 5 years I could expect.
1. Petrol cost Rs. 160 / Liter.
2. Two bed Metro house rent at Rs. 45,000.
3. Sky rocketing food price.
4. Unaffordable labor.
5. 75-80% housing units be financed.
6. More than all Healthcare / Education would be a great rip off.....
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The weak died on the way,
Only the strong arrived.
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A very good question that had been bothering me for quite sometime. Hopefully pundits would send responses. That also makes one wonder is it really worth investing in, lets say housing in India. Every time I hear that prices of housing is doubled/trippled in 5 years time but hast it really? Considering inflation and devalued rupee, it may not have gone up that high in terms of CAD. Oh well, I guess one needs to diversify. (Hope not hijacking the thread).
I have some money(Say $10000) sitting in my savings account. The only option I see to get guaranteed return is to put it in NRI fixed deposits which will yield at least 9% growth and be taxed. I do not see any better option in Canada to invest that small amount of money.
Can anybody provide some suggestions?
Quote:
Originally posted by ashedfc
this is precisely why your 5yrs assessment is correct (maybe the actual reality might overshoot.... I mean a Two Bedroom Metro House in a posh area rent today ranges around Rs45000, in 5yrs you can expect it to be much more maybe Rs 1lakh per month)..
I didn't mean an upscale apartment but an average apartment with facilities enough to entertain a small family that includes some play area, pool and family gathering area etc., upscale apartments can go to any level but in general they aren't included for economical forecasting.
Quote:
After couple of years most of us from Canada going to India maybe be treated like a broke guy with no money, as our money wouldn't even buy anything reasonable..... Some have already missed the boat..
To beat that, some invest in Indian real estate and some are holding on to what they have there.
We got to accept that a loss in the game of investment is inevitable. Shifting strategies continuously would affect more than staying put. I wouldn't think it would ever make any sense to any one to think about investment when there are open loans including Mortgage, car payments and enough to sustain at least six months...
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by web2000
I have some money(Say $10000) sitting in my savings account. The only option I see to get guaranteed return is to put it in NRI fixed deposits which will yield at least 9% growth and be taxed. I do not see any better option in Canada to invest that small amount of money.
Can anybody provide some suggestions?
You have to factor in exchange rate losses for conversion of CAD to INR, from INR to CAD back and also exchange rate difference between those times. Today it is Rs. 49 something for 1 CAD, a year back it was 44.
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Thx JRF for bringging out this topic. This will give idea to people on this forum what is going on with exchange rate.
Quote:
Originally posted by rajcanada
Quote:
Originally posted by web2000
I have some money(Say $10000) sitting in my savings account. The only option I see to get guaranteed return is to put it in NRI fixed deposits which will yield at least 9% growth and be taxed. I do not see any better option in Canada to invest that small amount of money.
Can anybody provide some suggestions?
You have to factor in exchange rate losses for conversion of CAD to INR, from INR to CAD back and also exchange rate difference between those times. Today it is Rs. 49 something for 1 CAD, a year back it was 44.
I have no plans to bring that money back. That will be used by my family in India. I just wanted to ask if there is any equivalent investment scheme in Canada which can give that much yield.
