Get ready for the Indian rupee

摘要

The world of forex is undergoing a rapid evolution. In recent years forex reflected the interplay of three major currencies: the U.S. dollar, the Japanese yen and the euro. The emergence of China as a significant player in world trade added a fourth element, and most recently India has emerged as a fifth force in the currency world. Palaniappan Chidambaram, India's finance minister, announced India's intention to transition its currency, the rupee, to a fully floating and convertible status; 1 rupee = $0.0224143.