2006-09-13 17:37:15 · 5 answers · asked by GIRI B 1 in Business & Finance ➔ Investing
It means the rupee can be exchanged for other currencies.
2006-09-13 17:45:37 · answer #1 · answered by Mark V 4 · 0⤊ 0⤋
it basically means how much will a dollar equal in an rupee umm meaning u change the dollar amount of the country u're living in to an Indian or Pakistani rupee.
EX: $1 USD = 44.028 INR or $1 USD = 60 Pakistani Rupees
basically it means to change one dollar bill currency into another country's currency.
EX: I live in USA and I want to visit India .. I can't use da American dollar in India b'coz dey dun accept it because they only accept Indian Rupees so I'd have to find out how much will my pocket money equal when I travel to another country so then I'll use the rupee converter and find out how much $20 equal.
did you understand my point?
2006-09-13 18:06:44 · answer #2 · answered by haseen_gudiya 2 · 0⤊ 0⤋
The convertibility being talked of now is on 'capital account'.
Which simply means you can buy assets abroad, have money stashed in swiss bank same as the way foreigners can invest in India and also repatriate money freely.
No restriction for inflow/outflow whatsoever !
Now , why don't you plan to buy a million shares of AOL in NYSE.
2006-09-13 18:10:55 · answer #3 · answered by indian b 4 · 0⤊ 0⤋
Exchange rates of different currency rates, these keeps on fluctuating on daily basis and depends up on it's demand.
for eg :
1 INR = 46.80 USD
1 INR = 58.90 Euro
like wise, if you need to purchase any goods in say $ and price of that product is $100 and if you have to pay in INR the price of that product will be Rs.4680/-.
2006-09-13 17:51:36 · answer #4 · answered by Vijaypappu 2 · 0⤊ 0⤋
rupee to foreign currency.
2006-09-13 17:39:51 · answer #5 · answered by Mr. Cool !!! 3 · 0⤊ 0⤋