Thursday, January 3, 2008

India: "Your Dollar is worthless, here"..use our rupees instead

I remember a time in my childhood when we could travel around the world and a single dollar made me feel rich while in other countries. That time period is over. The tables are changing. In fact, having dollars in your pocket may even get you rejected from entrance into one of the great wonders of the world, the Taj Mahal.

Excerpts from the Houston Chronicle,
India's tourism minister said today that the dollar will no longer be accepted at the Taj Mahal and other national tourist sites.

For years tourists visiting most sites in India were charged either $5, or 250 rupees.

After falling 11 percent in 2007, hitting nine-year lows to hover around 39 rupees, the dollar is out.

Charging only rupees now seems more practical and will save tourists money because "the dollar was weaker against the rupee," Tourism Minister Ambika Soni told the CNN-IBN news channel.

"Before the dollar lost its value, there was a demand to have (admission tickets) just in rupees," he added.
"We expect a slight appreciation of the rupee to continue, although it won't be as dramatic as last year," said Agam Gupta, head of foreign exchange trading at Standard Chartered Bank in India.

The dollar has fallen against most major currencies, and it has lost ground against the rupee due to an influx of foreign capital, Gupta said.
aaahh, welcome to the "poor life". Where for each hour you work..your wealth becomes less and less worldwide. Thanks "resident" Bush.

Same Players. Different Scandal.

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