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Sep 2013

Currency Special !

In this Edition

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Editor's Desk

Falling Rupee: Advantage NRI?

The biggest news among the Indians and Non-Resident Indians is the free fall of rupee value against international currencies. While the entire globe was stuttering with economic growth, India was posting a positive growth for the past few years. Foreign Institutional Investors (FIIs) were flocking to the Indian market to take advantage of this growth. A trip to India will demonstrate this growth with inflated real estate prices, improved infrastructure, numerous Indian subsidiaries, shopping plazas, shopping malls and higher cost of living.

India's higher rate of growth masked the key problem with the economy - bigger current account deficit (CAD) - the gap between imports and exports. The FIIs who were very mindful of this gap and were looking for the first exit at the hint of an alternative. So, when Ben Bernake hinted at the US economic recovery last month, the FIIs withdrew closer to 5 billion dollars out of the Indian market to invest back in US. This caused the biggest slump of rupee in recent years. Reserve Bank of India (RBI) is intervening to stabilize the slump however a economic correction seem to be on cards. Is this an advantage to NRIs?

Yes, it is.

* The government for the past few months have de-regulated the interest rates on NRI investment in Indian Banks. The NRE and NRO accounts fetch a higher percentage (closer to 10%) than local accounts. So, your money can grow at a higher percentage in India than your local bank. But be mindful of the restriction imposed on repatriation. You cannot transfer your money back right now. So, deposit only the extra dollars you would like to invest and won't need it immediately.

* Now, your foreign currency can buy more value than in the past. For example, the dollar value has appreciated closer to 20% against rupee which means now all the products cost 20% less for a dollar investor. The 20% can be bigger correction when it comes to big purchases like real estate, automobiles or others. Moreover, due to the market stagnation, the sellers are under pressure to correct the price. So, an opportunity to buy items 30% off does not look unrealistic!

Is this a gloom for resident Indians? Not really.

* The expected price correction on the products is a much needed one for the Indian economy. The economy has been on an overdrive for some time and a reasonable course correction can fuel the growth for a long term.

* The weakening rupee is an advantage for the export driven industry such as IT, Pharmaceuticals. The job opportunities and profit will increase in these sectors.

Despite the above advantages expect some price pressure on heavily imported products such as Petroleum, Gas and Gold. You need to work around these price pressure!

In this edition, we have an assortment of topic to entertain and edutain you. Read the gripping story, "My ex-Boy friend", in the story section. In the brain-tickler section we cover the various survey results on the American towns, cities and states. In the health section we are introducing you to Psoriasis and broaching the opportunity to eat insects as food. In the Tamil song section we have paid tribute to ever green poet Vaali. Now, read, enjoy and share the magazine with your network!

  • In the Brain-tickler category:
    • Survey results on American Cities, Towns and States. Are you up to speed?
  • In the Health Topic section:
    • Learn about itch condition in "Perennial Psoriasis"
    • Opine about the latest news, "Food shortage? How about eating insects?"
  • In the English Song category:
    • Listen to our English song Picks - Party picks !
    • Listen to the picked songs continuously with our Jukebox!
  • In the Seriously Funny section:
    • Watch the clip - "Your Mails!"
    • Read the humor, "Everyone knows me ..."
    • Read the humor, "Sharing is caring !"
  • In the Surfboard section:
    • Read the story "SHMILY ..."
  • In the Short Story section:
    • Read the story "My ex-boy friend ..."
  • In the Tamil Picks section:
    • Enjoy the 10 Tamil songs picked out of 20+ songs we picked as a tribute to evergreen poet Vaali.
    • Enjoy the video picks continuously, on-demand in our new video channel.
    • Listen to the song picks continuously in Jukebox.
    • Read the tamil poem picks "Ichsavalaiyum vellum"
  • In the Recipe Spot section:
    • Learn how to make "Mumbai Mast Tomato Pulao" at home.
  • Nuggets:
    • Enjoy our humor nuggets in various section of this edition
      - "True currency in this bankrupt world ..."- in Editor's desk section
      - "You can use that shopping cart ...", "Small insects or Big insects" - in Health section
      - "Core currency of any relationship ..." - in Surfboard section
      - "The currency of money ..."- in Reader's footprint section
      - "Inflation of prices ..." - in Your feedback section
  • Get Inspired by watching the video, "Life can be summed up in 3 words - It goes on ..."

As always, we are very confident that you will enjoy our picks. Write your feedback about this issue by clicking on the email icon or feedback icon. We truly value your opinion, thoughts and time.

Editor's Desk Image credit:,

True currency in this bankrupt world ...


The only true currency in this bankrupt world is what you share with someone else when you're uncool.

- Philip Seymour Hoffman

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