On 9/27/07, Ingrid <[EMAIL PROTECTED]> wrote: > I'm not sure what exchange rates you are working from. The US dollar is > currently trading just below Rs 40 which is the level it was at in the > early '90s.
I looked at the rates from around 1990, when the US dollar was trading at around 17 rupees. Actually, according to this document, 20 years ago, the exchange rate was less than 13 rupees. http://fx.sauder.ubc.ca/etc/USDpages.pdf But anyway, as Rishab mentioned, inflation would account for more than this, and in any case, these figures have already been adjusted for purchasing power parity. Venky.
