India: U.S. Dollars No Good at Taj Mahal, Other Venues

By Larry Habegger | Permalink | No Comments | November 20th, 2007 | Trackback

The weakness of the U.S. dollar against foreign currencies is old news, but now even in India the dollar’s woes are getting people’s attention and moving government to change policies. The culture ministry abandoned it’s long-standing practice of pricing entrance to World Heritage Sites such as the Taj Mahal in dollars for foreigners because the rupee has strengthened by 12 percent against the dollar this year. The $5 entrance fee had been set when the dollar was worth about 50 rupees but now it’s worth only 39, so the culture ministry has seen its revenue steadily decline. The new ticket price of 250 rupees translates to about $6.50.

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