Monday, October 06, 2008
NOW'S THE TIME TO BE IN INDIA (IF YOU HAVE DOLLARS)
I'm working on my Mysore Diary for YOGA/Chicago, and wanted to figure out how much the first month cost in dollars at the AYRI.
So I went to the currency converter and put in Rs 27,530.
It said I paid around $575 for the first month at the AYRI.
That seemed a awfully low, since I paid $555 back in 2002, when the dollar was strong (and they were still taking dollars).
The rate was just 42 rupees to the dollar when I registered in July, and I remember feeling some pain as I handed over the thick wad of Gandhi notes to Sharath.
So I did some checking.
For some reason - the impending nuclear deal with India? The impending war with Pakistan? The impending worldwide Depression? Indian financial woes spurred by the Tata Nano plant closure in West Bengal? - the rupee tanked today (read more here).
In fact, it's nearly 48 rupees to the dollar right now - the same rate it was back during my 2002 trip.
I redid the math with the old rate; in July, I actually paid $656 for a single month at the AYRI.
There's a chart showing the rate fluctuations here.