A story of Forex, currency conversion, forex rate sbi depreciation, inflation, subsidies etc. Again in the fond memories of Dev Anand.
I’m writing this story so that the newcomers can get some idea about Forex, currency conversion, rupee depreciation, inflation, subsidies etc. Investor: Faith won and lost Enter an American Mr. Thanks to American recession, he decides to invest outside USA, and comes to India with a bag full of green dollars, after he was assured by RBI and Commerce Secretary that environment in India is very conductive for business. Please come, give us your dollars, we convert it into rupees. Now James searches for land to open office or factory somewhere near a big city in India. But price of land is so high thanks to the black money, it doesn’t make any sense buying a property. I’ll starting a small-scale i-phone production company.
But the electricity shuts down at random, for hours and days. James: ok, I’ll buy a diesel generator like every other industrialist in this area. Again price of Diesel also increasing, Profit margin shrinking. Adding insult to the injury, his workers have gone on strike. Meanwhile the factory remains closed for weeks and months together.