| Username |
Post |
| Yankees |
Posted
on 02-Sep-03 07:37 PM
As you know that nepali Rupees is pegged against Indian Rupeese. In the currency market as you guys know the value of dollar is getting weaker and weaker day by day. It used to be Rs 77.some thing against US $ 1, now its about Rs 73.
When dollar gets weaker the buying power of dollar gets weaker too but on the other hand the selling power gets stronger. It means dollar can buy few goods and services compare to it used to.
Now the point is, in recent economic climate India's GNP is growing at the rate of 10.2 %. In this case india is not only selling but its buying too. When India can buy this big chunk of goods and service in the world, it could be able to buy some from Nepali market too, since we are pegged with Indian currency we cannot take full advantage of this growth of market. My questionis is there any way we (the nepali market ) can take good advantage ?
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| oys_chill |
Posted
on 02-Sep-03 08:19 PM
This is not in detail as u explained on sunday :P......anyways, when it comes to economics..............my mind is filled with dhakkan and one quote of raorke "eat the rich, kill the poor, screw every other son of a b!tch"
My questionis is there any way we (the nepali market ) can take good advantage ?
now is that for stu, ko201, rusty or eminem? they were all worried who'd get the ques :P
j/k
on a serious note, i am sure many will have probable answers to your queries yankee dai!
for me, the question is who will make sure it gets implemented!
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| Boke |
Posted
on 03-Sep-03 07:42 AM
Your point is valid, but given Nepal's comparitively miniscule economy, in a larger sense, it probably behooves us to peg our exchange rate to that of our southern neighbor's. This, at least, shelters us from the fluctuations in international markets, to a certain degree of course.
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| Rusty |
Posted
on 03-Sep-03 10:11 AM
Yes. Oys is right.. This isn't what you explained us in the park:P However, thank god, you didn't pose this question to us in the park as we're listening to you. Economics peg sounds awesome but I still like Whiskey peg;) I am still baffled about the concept of peg I know is Whiskey peg:(
Anyways, you will get good answers from other people if they dare to answer this valid query:)
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| Bhunte |
Posted
on 04-Sep-03 02:25 PM
controversial topic...
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| mickthesick |
Posted
on 09-Sep-03 04:01 PM
here's the real deal.
not everyone knows that the economy of nepal is growing at a faster rate than the economy of india.....i know that most of you will not agree with this but this is the fact.....believe me or not.
if nepalese currency were to be evaluated directly against the dollar, then the value of 1 dollars would be almost 65 nepalese rupees.
but .....since nepalese currency is first compared against indian currency and then the indian currency is compared against the dollar to determine the worth of nepalese currency against dollar..........the value of nepalese currency never really seems to appreciate.
my point: Nepal Rastra Bank should start determining the buying and selling power of nepalese currency by comparing it directly to the appreciation and depreciation value of dollar in international market.
you might say "why?"
my answer: because in that way we can avoid the negative effect that the recession in india can cause to our currency.......if india becomes poorer then we will also become poorer(but remember that we are actually not poor if we see the increase in our economy).......and if india becomes richer....which is unlikely considering that 75 percent of it's population is under poverty line....then we will also become richer(but remember that we are already rich if we look at the economy booming right now in nepal.)
well........i am not sure if everyone understands this or not.......but we should stop determining our worth by being compared to what india is worth.
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