Re: Money Exchange
 

This what you just can't get a grip on.............. we are not talking about India per se, just a favourable exchange rate. In fact not really involving inflation, rather the volatile foreign exchange markets!

If they were to reply with honesty;

Hot winters
Beaches
Lowish property prices (but not for long)
Cheaper food and drink

And I bet the vast majority don't even know their neighbours, let alone care about them. Especially as most have bought in tourist enclaves!


.

Just my opinion, of course.

Re: Money Exchange
 

Its leveled out at a 100 Rps.......1 Rupee equals 1 Pence...wow !Wonder if it will end up like the Italian Lire where a packet of fags cost 12,000 Lire. Cheaper than toilet paper in India now.

Re: Money Exchange
 

I agree with the above apart from the neighbour aspect: I'm as interested in my neighbours as they are in me - if on the face of things they appear to be reasonable people, if not then avoiding eye contact is the best option.

As for tourist enclaves - in my limited experience, 'tourist' coastal North Goa is very different from 'tourist' coastal South Goa. Maybe I'm missing out but I try to avoid going up North anymore - I just try & do anything I need to do by registered post - for the limited time that I am there.

H.

Re: Money Exchange
 

Actually by "neighbours" I meant other Indian people not necessarily your actual 'next door' neighbours.

Being British we also are pleased to benefit by the good exchange rate.
Is it too much to also realise that the Indian economy in trouble will mean inflation and hardship for the less advantaged? Is a post mentioning this a reason for a negative reply?

Re: Money Exchange
 

Well, I didnt. I said neighbours and I meant neighbours strangely enough.

Goan neighbours, nosy, jealous, interfering, picky, always right, constantly in your face, offering unwanted opinions and advice, gossiping, two-faced, smiley Goan neighbours

As I am sure any foreigner who has actually lived there, other than in a tourist stalag will agree?

You need to stop branding anything that doesn't agree with your slewed pro-India take on everything as negative.............. or we will all get bored with arguing with you, and that would be a shame :rofl:


.

Re: Money Exchange
 

Recognising that an Indian economy in trouble will also cause inflation and problems for the poor is a "slewed pro-India take" is it??????
What do you think the result will be? (Discussing not arguing.):)

Your particular neighbours sound awful, why did you not move to a more pleasant area of Goa?

Re: Money Exchange
 

What, like Karwar :rofl:

Apart from that, as the youngsters would say............... meh!

Oh, and goodnight.


.

Re: Money Exchange
 

I apologise for being very, very happy today. 100R to the pound!! I'll be even happier if it drops even further.

According to the BBC Asia business report, half an hour ago, expat Indians too are happy. Traitors? No, just human and part of the capitalist system where one mans meat is another's poison.

Davie.

Re: Money Exchange
 

No need to apologise, we are also happy at getting more for our £s, OH is unhappy that he deposited an amount a month ago and has lost quite a lot.
Is it not possible to be also sorry about the Indian (am I allowed to write the word?) economy/bankruptcy and think about the results on others? I see no reason to apologise for mentioning it!!

Re: Money Exchange
 

There's 2 sides to every story: in the UK people with mortgages are happy about low interest rates whilst savers are unhappy about low interest rates.

NRIs will be happy as they're getting more Rupees for their $, £, € or whatever.

Resident Indians who purchase imported goods (middle or upper middle classes?) will be the most unhappy I guess as everything is costing them considerably more. The rich will not be too bothered I guess because it appears that rich Indians get their money out of India to avoid tax (I may well be wrong about this?) & I cannot really see how the declining Rupee will affect India's 400 million (?) poor as I can't think of what they would buy (other than relatively small quantities of petrol & even maybe LPG) that is imported.

Anyway, according to the BBC website the exchange rate is now Rs 102.90 to £1 sterling - the Rupee has dropped a further 4.3% against Sterling today. :eek: :eek: :eek:

We have ICICI bank Rupee travel cards but i dont really think i 'trust' them/ICICI bank & am undecided as to whether to actually load them with the permitted Rs50,000 each. Being an Indian bank there is no protection under the FSCS & I can just envisage being in Goa, sticking the card in an ATM & "computer sez no!" - the hassle of trying to sort that out & convince ICICI bank to give us the cash off the card whist in Goa just doesn't feel worth the risk - especially after the recent Axis bank debacle. . . . . . . . . . .

H.

Re: Money Exchange
 

On the day the rupee went over £ = 100 I checked the rate for loading these ICICI cards - it was 97.5
There's no such thing as a free lunch.

AndyD 8-)₹

Re: Money Exchange
 

I received an email last night from ICICI offering 100.57 for fixed rupee transfer.

Re: Money Exchange
 

Wouldn't trust ICICI as they have been bust before !

Can anyone confirm that it is still illegal to purchase Rupees in the UK ?
Friends of ours are buying some in advance for their forthcoming trip around India and due to the slide are going to purchase from the UK - I have advised them they run the risk of confiscation if found by customs in India but they have said there had been a change on the exchange rules ?? :blink::confused: - I can't believe its now 106 at the top end of the market as I write :ohmy:

RofS

Re: Money Exchange
 

... and then there's differential exchange rates: an Ad for 'Luxury Trains' popped up so I had a quick look, 'Splendor of the South' tour, 7 nights, Tariff ₹184800 (Indian National only) or $5817 (International travellers).
xe today offers ₹184800 for $2,720

AndyD

Re: Money Exchange
 

On XE this morning it was 105 Rupees to the Pound !