Mumbai: Although India’s economic boom has got many thrilled with the rupee’s rising strength, for many Indians with expatriate children, it spells bad news.
Mrs Eula Pinto was dependent on the money sent by her daughter, who resides in the US. But with the dollar’s continuing fall, she has been forced to restructure her household budget.
“It's (the dollar has) gone down terribly and it's quite difficult to meet with my day to day expenses,” said Pinto. “I mean, earlier I could even save for my future like – you know – medical expenses, or like, some major purchases. That way, I could save.”
http://www.ibnlive.com/news/weak-dollar-spells-belttightening-for-nris-families/54011-7.html
2 comments:
This devaluing of the dollar proves that India's economic growth as a nation. even though in many countries around the world the dollar is being devalued slowly, but for developing countries this shows their progress in the international race of the economic powers. economic magazines have dubbed India one of the top progressing countries in the world. by bringing down the value of the us dollar (which is one of the strongest currencies) this supports the countries development.
I agree with Shelly. I feel that this article displays the reality that India is on its way to becoming one of the next economic superpowers. The fact that developing countries like India are stepping up to the American plate shows that there will be serious economic shift with countries like Inida and China. It is definitely tough for these families to adjust to the devaluing of the dollar, but I feel that it will not happen for long because of the economic growth India will endure in the near future.
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