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« Forex »
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Dollar plunging below critical level
May, 31st 2008

No seriously, how much lower will the dollar go? It's gone lower beyond Mallika's neckline and even Rakhi Sawant's dcolletage seems nun-like proper in comparison to this plunge. Is that how low it goes or will it plunge further?

78 per cent of Americans say that the economy is getting worse, according to a recent Gallup report. So we poor third world types better be ready for some tough times because the greenback today looks increasingly like what the Bangladeshi taka looked like a few years ago. It's safe then to say, "Dollar to do takey ka nahi."

Why if Karzai is given a free hand, the Afghani will be equal to the dollar. The ISI can then trade their ill-gotten dollars with the Afghani.

And those wealthy Indians, who stashed away dollars without Chidambaram's knowledge, weep copious tears because the taxman is having the last laugh. Your dollars are not worth the Samsonite suitcase it is packed away in.

Try travelling anywhere in Europe with dollars instead of Euros. You are met with stony looks at currency exchange counters. One gets the same look that Arab sheikhs got changing dinars few months after 9/11.

Recently in Moscow, I tried paying my hotel bill in dollars. I was politely and firmly ticked off. "No dollars here, or anywhere maam." I presume she meant anywhere in Russia, but she would probably not be too off the mark if she meant the world minus the US and England. Oh yes in England the Bureau de Change (as you would have gathered I hate paying commission fees) accept the dollar as if accepting 'shagun' from a relative. The US is their relative from across the pond, you see.

Once the oil barrel become a $100 and more, Americans will know what it feels like to be Indians, who hesitate to order a double iced, skimmed venti latte at Starbucks wondering how many nimbu paanis you could have bought with those Godforsaken dollars. With the rupee growing stronger there are more Indian billionaires than before we are told. K P Singh of DLF replaced Azim Premji in some billionaire lists. More power to our real estate maharajahs. They are the true blue blooded types in the new millennium.

Now, how about a Sahara Mall or a DLF Plaza in Texas? Right in the middle of Dubya land? The Texan product, George Bush, has brought the dollar where it is today. He just might take the Rupee to new heights. Of course he will welcome us Indians, after all he is our best bet, right Mr Prime Minister?

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