Saturday, November 17, 2007

India disfavors the dollar

By Libby

I'm far from a serious globetrotter but I've traveled rather extensively through Western Europe, the Carribean and the Latin Americas and unless you got pretty far off the beaten track, the US dollar was pretty much interchangeable with the local currency, particularly at major tourist attractions. Today, that's not so much true.

The Ministry of Culture has begun insisting that tourists visiting the country’s monuments, including the Taj Mahal, pay the entrance fees in rupees rather than in dollars. Entrance to many sites for foreign tourists is priced in dollars and then converted to rupees, but the ministry has been losing tourism revenue as the dollar slid more than 12 percent this year against the rupee.

In practical application, something seems to be seriously wrong with, as Bush recently put it, our strong dollar policy.

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