Finally something that might kill outsourcing
-
Nishant Sivakumar wrote:
This morning the ratio was: 1 U.S. dollar = 1.05419956 Canadian dollars
My cousin visited from the US a couple of weeks ago. She decided to exchange USD 100 at the airport into local currency and received a rate of 1 USD = 0.97 CAD! Granted, ports of entry are the worst places to exchange money, but still! /ravi
This is your brain on Celcius Home | Music | Articles | Freeware | Trips ravib(at)ravib(dot)com
Ravi Bhavnani wrote:
She decided to exchange USD 100 at the airport into local currency and received a rate of 1 USD = 0.97 CAD! Granted, ports of entry are the worst places to exchange money, but still!
Wow - that's the first time I heard a sub-1 conversion for CAD$ :-) I bet you are thinking your timing was perfect, eh Ravi?
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com link -
Nishant Sivakumar wrote:
This morning the ratio was: 1 U.S. dollar = 1.05419956 Canadian dollars
My cousin visited from the US a couple of weeks ago. She decided to exchange USD 100 at the airport into local currency and received a rate of 1 USD = 0.97 CAD! Granted, ports of entry are the worst places to exchange money, but still! /ravi
This is your brain on Celcius Home | Music | Articles | Freeware | Trips ravib(at)ravib(dot)com
Ravi Bhavnani wrote:
ports of entry are the worst places to exchange money
Unless you exchange on the black market! :~
Simply Elegant Designs JimmyRopes Designs
Think inside the box! ProActive Secure Systems
I'm on-line therefore I am. JimmyRopes -
Vikram A Punathambekar wrote:
Been napping? The Rupee has been between 40 and 41 against the dollar for about 6 months now. Word is that it would have risen further, to ~35, but the RBI stepped in lest the IT and export sectors take a total beating.
Nope, I haven't been napping. I am extremely conscious of the USD-INR conversion because I have a car-loan (not paid off yet) where the monthly payment is in INR and every month I notice that I have to pay an amount in USD that is on the rise every single month :-)
Vikram A Punathambekar wrote:
Word is that it would have risen further, to ~35, but the RBI stepped in lest the IT and export sectors take a total beating.
Yep, I read that too - that it's artificially stagnated at around 40 rupees to the dollar when it should really have been closer to 35. This is bad for Indians living abroad, but personally speaking I am delighted for India :cool:
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkI take it the car loan you are talking about is in India?
Nishant Sivakumar wrote:
Yep, I read that too - that it's artificially stagnated at around 40 rupees to the dollar when it should really have been closer to 35.
I remember in the early 90s it was ~20 to the dollar and the next thing I knew it was ~40. Of course, I must have been ~10 years old, so...
Nishant Sivakumar wrote:
This is bad for Indians living abroad, but personally speaking I am delighted for India
It's also bad for anyone who exports things to the US (including IT companies) but I too am delighted. :) Looks like my stalker is back. :suss:
Cheers, Vıkram.
After all is said and done, much is said and little is done.
-
I take it the car loan you are talking about is in India?
Nishant Sivakumar wrote:
Yep, I read that too - that it's artificially stagnated at around 40 rupees to the dollar when it should really have been closer to 35.
I remember in the early 90s it was ~20 to the dollar and the next thing I knew it was ~40. Of course, I must have been ~10 years old, so...
Nishant Sivakumar wrote:
This is bad for Indians living abroad, but personally speaking I am delighted for India
It's also bad for anyone who exports things to the US (including IT companies) but I too am delighted. :) Looks like my stalker is back. :suss:
Cheers, Vıkram.
After all is said and done, much is said and little is done.
Vikram A Punathambekar wrote:
I take it the car loan you are talking about is in India?
Yes, that's right.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com link -
Nishant Sivakumar wrote:
the US dollar has fallen drastically
It is all part of Dbula's economic plan to bring jobs back to the US. :~
Simply Elegant Designs JimmyRopes Designs
Think inside the box! ProActive Secure Systems
I'm on-line therefore I am. JimmyRopes:laugh: too much credit probably.
We are a big screwed up dysfunctional psychotic happy family - some more screwed up, others more happy, but everybody's psychotic joint venture definition of CP
My first real C# project | Linkify!|FoldWithUs! | sighist -
:laugh: too much credit probably.
We are a big screwed up dysfunctional psychotic happy family - some more screwed up, others more happy, but everybody's psychotic joint venture definition of CP
My first real C# project | Linkify!|FoldWithUs! | sighistpeterchen wrote:
too much credit probably.
You are probably right, there is no plan! :doh: , but I wouldn't put it past the "King of Spin" to say something like that. :rolleyes:
Simply Elegant Designs JimmyRopes Designs
Think inside the box! ProActive Secure Systems
I'm on-line therefore I am. JimmyRopes -
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkNishant Sivakumar wrote:
I am sure this would affect companies in Canada that sell in USD.
Understatement of the century! We've had to raise our prices steadily for the last few years just to keep up.
"I don't want more choice. I just want better things!" - Edina Monsoon
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkIt's all part of Bush's plan to turn the U.S. into another Argentina. Except in this case, he'll bring down the entire world economy as well. Marc
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkThey're letting the dollar drop to get the import/export ratio in balance. The U.S. has been importing way more than exporting for a period of timen and spending too much on credit. At some point things are going to change ofcourse.
Wout
-
They're letting the dollar drop to get the import/export ratio in balance. The U.S. has been importing way more than exporting for a period of timen and spending too much on credit. At some point things are going to change ofcourse.
Wout
wout de zeeuw wrote:
They're letting the dollar drop
There is no letting to it. It has to happen because of simple economic principles: supply and demand. Less foreign investors want dollars because of several factors like the deficit spending thats been taking place for the last 3 or 4 years. It will be interesting to see if the next administration can "correct" this in light of the spineless congress. But, it's a great time to be a currency trader or commodity (metals) investor.
My Blog A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects. - -Lazarus Long
-
Vikram A Punathambekar wrote:
Been napping? The Rupee has been between 40 and 41 against the dollar for about 6 months now. Word is that it would have risen further, to ~35, but the RBI stepped in lest the IT and export sectors take a total beating.
Nope, I haven't been napping. I am extremely conscious of the USD-INR conversion because I have a car-loan (not paid off yet) where the monthly payment is in INR and every month I notice that I have to pay an amount in USD that is on the rise every single month :-)
Vikram A Punathambekar wrote:
Word is that it would have risen further, to ~35, but the RBI stepped in lest the IT and export sectors take a total beating.
Yep, I read that too - that it's artificially stagnated at around 40 rupees to the dollar when it should really have been closer to 35. This is bad for Indians living abroad, but personally speaking I am delighted for India :cool:
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkNishant Sivakumar wrote:
where the monthly payment is in INR and every month I notice that I have to pay an amount in USD that is on the rise every single month
Can you sell the car and cut your losses? -- modified at 0:06 Monday 6th August, 2007
My Blog A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects. - -Lazarus Long
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkGet ready for gold to be at $700/oz :cool: Several governments have been trying to cap the price of gold by dumping huge amounts. Just recently, the Swiss National Bank sold 13.9 tones in June. In the end, market forces usually prevail and I think we will be seeing multi decade highs for gold, silver, and other precious metals.
My Blog A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects. - -Lazarus Long
-
It's all part of Bush's plan to turn the U.S. into another Argentina. Except in this case, he'll bring down the entire world economy as well. Marc
My conspiracy theory is that congress and the presidency is and has been deliberately debasing the dollar to pave the way for an "American Union."
My Blog A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects. - -Lazarus Long
-
Nishant Sivakumar wrote:
where the monthly payment is in INR and every month I notice that I have to pay an amount in USD that is on the rise every single month
Can you sell the car and cut your losses? -- modified at 0:06 Monday 6th August, 2007
My Blog A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects. - -Lazarus Long
The car is outsourced too :doh:
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkThere is some article-analysis on this topic on Rediff: http://www.rediff.com/money/2007/jun/19rupee.htm[^]
Vasudevan Deepak Kumar Personal Homepage Tech Gossips
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkI doub't it... The exchange rates did not stop the UK's biggest and richest exams board making the decision recently to ask it's developers to reapply for their own jobs. The decision was made by someone in HR to outsource future development work to India so money could be saved. At the same time (to my knowledge) at least 2 senior managers were given large redundancy packages. I have a number of indian friends who have all come to the UK to find work and make money, but I don't know anyone who has gone to Mumbia from the UK. I wonder where this is all going to stop. Regards Tim
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkIt's no news. Dollar is faring worse and worse during the last three years. One Euro is now 1.35 dollars and more. And the Federal Bank doesn't do anything drastic for that, sacrificing buying power and control of the world economy to get some jobs back to US (while on the other hand Germany started worrying because if Euro goes higher than 1.40 the new rise of the German economy might be slowed down). Of course that's a perfect time for non-Americans to buy rpg books and card games (most printed in the States and occasionally Canada) :P. Or give that 5 dollars (paypal translates it to 3.73 euros while in the past it could have been as high as 6) donation to that software guy who wrote that nice freeware etc etc.
-
I take it the car loan you are talking about is in India?
Nishant Sivakumar wrote:
Yep, I read that too - that it's artificially stagnated at around 40 rupees to the dollar when it should really have been closer to 35.
I remember in the early 90s it was ~20 to the dollar and the next thing I knew it was ~40. Of course, I must have been ~10 years old, so...
Nishant Sivakumar wrote:
This is bad for Indians living abroad, but personally speaking I am delighted for India
It's also bad for anyone who exports things to the US (including IT companies) but I too am delighted. :) Looks like my stalker is back. :suss:
Cheers, Vıkram.
After all is said and done, much is said and little is done.
It's not delightful a tall for me untill we foolish Indians do not stop buying imported goods. As the money has gone up, people have started expensing more in US and thus the US market is taking hold more and more in Indian people. This is bad for future unless we stop buying like a fool.
Jwalant Soneji (BE IT) Mobile: +91 9969059127 http://jnsoneji.spaces.live.com http://jnsoneji.blogspot.com
-
I doub't it... The exchange rates did not stop the UK's biggest and richest exams board making the decision recently to ask it's developers to reapply for their own jobs. The decision was made by someone in HR to outsource future development work to India so money could be saved. At the same time (to my knowledge) at least 2 senior managers were given large redundancy packages. I have a number of indian friends who have all come to the UK to find work and make money, but I don't know anyone who has gone to Mumbia from the UK. I wonder where this is all going to stop. Regards Tim
Sp00kyTheCat wrote:
The exchange rates did not stop the UK's biggest and richest exams board making the decision recently to ask it's developers to reapply for their own jobs.
It wouldn't do. It's the dollar that's hit the floor - the pound is as strong as it ever was.
-
1 U.S. dollar = 40.3404736 Indian rupees :eek: A couple of years ago it was as high as 47 rupees, and then it stabilized around 45 rupees. But in the last few months, the Indian rupee has gone up steadily and the US dollar has fallen drastically. Major Indian software companies like Infosys, Wipro, TCS etc. reported a 10% fall in profits in the last quarter (curiously that matched the drop in the dollar value). If this continues in this fashion, outsourcing will lose much of its dollar-rupee-difference based advantage. It's probably not just India that's affected, Canada must be affected too. When Smitha and I lived in Toronto, 1 US$ was about 1.18 Canadian dollar. This morning the ratio was : 1 U.S. dollar = 1.05419956 Canadian dollars I am sure this would affect companies in Canada that sell in USD.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
My latest book : C++/CLI in Action / Amazon.com linkI worked in the US for 2.5 months last year, ending in July. When I left, the UD$2000 I had in the bank was worth NZ$3200. If I had left it there, instead of getting it out a month later, it would now be worth NZ$2600. When I closed the account the woman at the bank asked me why I was closing the account. I told her it was because Bush had wiped his ass with the economy. As well as the US dollar weakening, the NZ dollar is strengthening because of foreign investment. So our exporters - which is the majority of our businesses - are really feeling the pinch. The crazy thing is how quickly it's happening. If the dollar goes back to where it was, then there are going to be a lot of holes to fill in the NZ export market.