The Rupee

Here is an interesting statistic of Rupee, the common name of the currencies used in India, Pakistan, Nepal, Sri Lanka, Mauritius, Seychelles, Indonesia and Maldives (I’m ignoring the slight variations in names such as Indonesian Rupiah and Maldivian Rufiyaa as they are cognate words of Hindi Rupiya).

1584 million people (the total population of the above countries) use the currency Rupee for their daily transactions; buying day today stuff and all. This is 24% of the world’s population. That means every fourth person living in this world uses a rupee every day.

Country	Population
India	1140
Pakistan	165
Nepal	28
Sri Lanka	19
Mauritius	1
Seychelles	1
Indonesia	229
Maldives	1
Total	1584

*Data extracted from wikipedia

See how famous the Rupee is! And we thought the Rupee was one of those not so famous currencies in the world?

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WallStreet crumbles

- Lehman Brothers, files for bankruptcy.
- Bank of America to save Merrill Lynch from the same fate by buying it for $50 billion.
- AIG looking to raise capital; also to avoid the same fate.

Complete coverage by WSJ.

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Indian Industrial growth rate at 7.1%

The Industrial Production Index grew to 7.1% in the month of July far exceeding expectations set from 4 to 6%.

This is indeed great for the economy which has been performing badly for a few months now. As a result of the unexpected growth rate, the Industry demanded a rate cut in interest rates to enhance investments further.

More news here.

Indian Inflation at 12.1%

India's inflation rate dips to 12.1% for the year ended August 30 2008.

This is the third consecutive time that inflation has declined. But the same was 3.2% the same time last year.

The drop in fuel prices over the couple of months would soften inflation further. More news here.

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Financial Products Information

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The site is updated with latest contents (news, articles etc.) everyday and to keep us updated of new content, they have an RSS feed in the website. Readers can subscribe to this feed in their feed readers to get to know of new articles as soon as something is posted in the site. The site also has a weekly newsletter to which the readers can subscribe to just by entering their email ids. This would useful for those people who wants themselves to be updated with the latest happenings in the finance world but don’t have enough time to visit the site everyday.