India Snubs the Dollar
The dollar has simply fallen too low for India, which will no longer accept the greenback 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?
The dollar has simply fallen too low for India, which will no longer accept the greenback 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?
Wait, before you go…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.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
House panel members use the opportunity to grill the CEO on company's track record on civil rights, hate speech, privacy and misinformation.
Secretary-General Antonio Guterres says the risk of each creating its own rival currencies, trade systems, tech and more is a real threat.
The threat of a U.S. technology company taking up the model set by China's WeChat Pay and Alipay may now be materializing.
The Trump administration accelerates the abandonment of the dollar as the world’s principal reserve currency, which will be fatal to the American empire.
The 2007-2008 financial crisis triggered a massive shift in the global order.
There are currently no responses to this article.
Be the first to respond.