If you are an Indian living in US, you may have already experienced it. Currently, there are only two subjects that are being discussed among Indians – The falling dollar versus the rising rupee and Heroics of Indian Cricket team at the Twenty Twenty World Cup competition.
Last week Dollar fell further against Rupee, a trend that started since early January this year. And it is not only the rupee against which Dollar has weakened, it fell to its lowest level in last 15 years against a basket of six currencies on worries that lower US rates would erode the value of dollar assets.
What does it mean for Indians living abroad?
The weakening of dollar is fast becoming an important reason for Indians to move back to their homeland. Just yesterday, I was with bunch of my friends in my apartment complex and the discussion as expected was around the Rupee and cricket. Everyone universally accepted that Dollar is going to keep going south and in near future we may see Dollar nearing 30 rupees.
At the same time, salaries in India are touching the skies. With those kind of salaries, and strengthening Rupee, is it better to move back to India ?
This is the dilemma that majority of Indians have right now.
The other subject however, was more animated and upbeat. The heroics of Yuvraj Singh and Indian team against England and Australia was being discussed with excitement.
Will Rupee touch 30 against dollar in near future and will India win the first twenty 20 tournament are the two questions every Indian needs an answer. The latter question will be answered in a day, but the former will be discussed for a long time.