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For me the most astonishing thing about this is that Rs1,000 is only 14 USD o_O
by knocte 10y ago
For me the most astonishing thing about this is that Rs1,000 is only 14 USD o_O
- pksadiq 10y agoAbout ₹10,000-20,000 would be enough for a middle class family (say, about 5 members) to live for a month. How about USD required when in US?
- owaislone 10y agoA lot more than that because quality of life is many times better than India. Seems like you were offended by his comment. He is just surprised to know the value of Indian Rupee. Nothing wrong with that. That said, 10-20k INR is in no way enough for a family of 5. Yes, it can buy them food and power but it's not enough. It'll barely let them survive.
- pksadiq 10y ago> A lot more than that because quality of life is many times better than India. 'Quality of life' isn't directly proportional to the money spent. Yes, money is required for happiness. But money isn't happiness. And you know, now in India, the more money one have makes him/her more worry.
- owaislone 10y agoOK
- knocte 10y agoI don't know, I'm not USamerican. I was just bringing up the exchange rate in case anyone was wondering about the value of the notes being banned.
- erroneousfunk 10y agoAre you asking how much it would cost a middle class family to live in the US for a month? It varies wildly between parts of the US, and the rural vs urban areas. In Boston Massachusetts, for example, the median family of 5 makes about $6,000 after taxes ($84,195/year before taxes). In poorer areas/states, like Mississippi, families of 5 live on average, with $3,700/month after taxes. So, ₹250,000 - 400,000 a month. I'm beginning to think I should move to India!
- pksadiq 10y ago> I'm beginning to think I should move to India! Hm.. For you it will cost more than an Indian would. Because we will label you as a tourist. So if we pay ₹100 for something we buy, you may be charged ₹200 or more. Sorry. That's one of our income sources. :-)
- naveen99 10y agoFood, clothing, housing is 10x cheaper in india at non luxury quality. Internet, electricity, gasoline is more expensive than the west. A few things like corruption free living are just not available though. Hopefully this will change after changes like this. I am very optimistic.
- korginator 10y agoWhy? That's the whole deal about currencies. It's worth what the market thinks it's worth. A US$ is worth around 13,000 Indonesian Rupiah, about a hundred Japanese Yen and around 22,000 Vietnamese Doung. They're just numbers.
- knocte 10y agoI meant that it's astonishing India decides to ban notes with such a small value.
- denzil_correa 10y agoThe value is higher in India, than you imagine.
- knocte 10y agoI can imagine it's higher, of course. But it's not 100 times higher.
- denzil_correa 10y agoWell, you'd be surprised!