Everyone Hates the Dollar ..... Even at the Taj Mahal

[marmar]

from Truthdig:



India Snubs the Dollar


Posted on Nov 16, 2007


The dollar has simply fallen too low for India, which will no longer accept the currency at its many tourist sites, including the Taj Mahal. Tourism ministry officials said they had to move quickly in order to protect Indian revenues from the dollar’s free fall. Remember when the dollar was like gold in the developing world?

BBC:

The ruling is due to be implemented next week. Entrance fees to the sites in question will be either 250 rupees ($6.35) or 100 rupees ($2.54).

“These rates have been fixed in line with international practices, and in order to take care of the fluctuation in the dollar rates,” a spokesman for the Ministry of Tourism told the BBC.

Officials say the ministry wanted to act fast so that the revenues are not hit.

http://www.truthdig.com/eartotheground/item/20071116_india_snubs_the_dollar/

[depakid]

1. Well, would US vendors accept rupees?

Pesos, maybe- along the border.

[gateley]

4. No, but rupees were never the world standard (or whatever it's called) The Dollar was. nt

[depakid]

9. That doesn't mean that the dollar was always accepted

as payment for goods and services! In some places, maybe- in others you wouldn't even think about it.

[gateley]

10. You know what? I'm just going to shut up here because -- honestly -- I realized

I don't know what the hell I'm talking about! And thanks for your kindness in not pointing that out! :hi:

[Fresh_Start]

2. does this make all those jobs outsourced to India

a lot more expensive for the companies outsourcing them?

I certainly hope so.

[gateley]

3. This is chilling. I know there are those who understand economics (I don't) who

say in the long run this is good for America because they will be able to buy our goods cheaper, and as a result they will buy more from us.....and so on.

But tell that to the honeymoon couple trying to get their picture snapped in front of the Taj Mahal and their dollars just don't cut it.

Last time I was in Europe (granted, it's been awhile) I NEVER had a problem with using my dollars no matter where I went.

This, to me, is SERIOUSLY alarming. :scared:

[marmar]

6. "Last time I was in Europe .... I NEVER had a problem with using my dollars"

THAT you haven't been able to do in a while. I've been traveling to Europe regularly since 2000 and I've always had to convert, even in those couple of years before the conversion to the Euro.

[gateley]

7. I didn't even think about the Euro! Yeah, I think the last time I was there was

in the late 90's - so almost 10 years? And it's interesting that you've always had to convert since 2000 - that kind of takes the air out of my "outraged" statement. I thought it was just recently that people started running the other way when they saw a greenback being slipped out of a wallet.

Well in any event, I wish you well on your next trip. Better bring MORE money along! :7

[Cha]

5. "Like Gold"? You mean before

everything started going in the gutter when the bushites staged the coup in 2000 with the aid of the felonious five and the US corporatemediawhores?

[gateley]

8. Didn't Nixon do something hinky with our gold? nt

[sailor65]

11. Anyone who travels a lot

doesn't try to spend dollars abroad anyway. The right thing to do is get an exchange right off the bat.

This isn't about "Hating" the dollar, it's about profit. When you spend American money in a foreign country, if you take the time to do the math, you learn quickly that the vendor is making an enormous profit exchanging your American cash, as opposed to you exchanging it yourself at the border. Many vendors are seeing that profit margin fall right now because of the dollar, and THAT is why these changes are happening.

Canada is a prime example. Most vendors in Ontario were easily taking 20-30% profit on US money, which is why they were so "Neighborly" in taking it.

Sometime down the road, when the drop has caused a corresponding trade shift and the value starts coming back up, all of a sudden these clowns will want to be pals again.

[Doctor Cynic]

12. Good points.

In Canada, I remember in 2003 a visitor from China who were seeing us forked up a US$100 bill, and the cashier decided it was worth $134 Canadian. In 2004, some tourist stores were accepting the greenback at 1:1.2. Last year they took it 1:1.1 or 1.15. This year when I worked at summer jobs they were taking US dollars at 0.95:1, and then I watched as they changed it to 1:1 and then 1.05:1. Those rates are always a good deal higher than the official rate, just so they can cash in on the laziness of American tourists.

[Toucano]

13. Hate might be a bit strong.

People still love the dollar. We just need more of them. :)

Please feel free to give me every dollar you hate! LOL!