(edit title) Sek vs Inr Will it keep rising during this month? Options

[rorre]

question aimed @ Indian expats or anyone who has an opinion in foreign exchange.
1sek=6inr(2004) ,1sek=6.5inr(2010) ,1sek=7.00inr(2011) and almost 8inr in july 2012.
It has been particularly increasing in the last 2-3 weeks.No idea on what factors it will change.
Do you think, if it will be the same trend in the coming weeks? Please share ur thoughts. (v.imp b'coz i will have to do currency exchange for huge amount).

[byke]

isn't the decrease in value related to the latest growth records which said India was doing badly?

[Kinighty]

My 2 cents...all global currency are interlinked to Major currency..as usual USD..u might have seen that INR vs USD was related to how INR vs SEK was fluctuating...but if someone could understand the currency markets so well...he would have been a billion er by now... also Swedish economy is stable and doing good..compared to India..or US...so swedish Currency is strengthening ...but we Swedish economy are an export economy so we need counter the strengthening of the currency to be competitive...

If I had transferred 1000SEK in 2004 instead of waiting with that money expecting to go up the Swedish bank where I get 1% interest rate also 30% tax on interest ..its effective worth in INR would be 1 SEK to 12 INR in Today's term...Considering that in India now the bank FD interest rate is going around 9% in line with the inflation...

I would transfer money to India today and get 1 SEK to 8 INR ...than wait a year expecting it to go up ...I would wait if I expect it will be 1 SEK to 8.8 INR...which i highly doubt.. anything less is not worth keeping in Sweden...

[rorre]

Thanks Kinghtly.It was helpful.
Yes i agree,all global currency are interlinked to USD and so the fluctuations.
I wasnt going to wait 1 year,was just trying to wait for 2-3 weeks max.
I will go ahead with the Tranx now.

[Kinighty]

It says that INR is going to get weaker ...but I don't expect it to breach 8 any time soon...

http://economictimes.indiatimes.com/market...ow/14727082.cms

http://in.reuters.com/article/2012/07/06/i...E8I60OE20120706

Until u see 57 vs USD ... It's my 2 cents... Decide with ur own brain...

[rorre]

It makes proper sense...Thanks again Kinighty.

[voidplay]

That depends on your confidence of congress staying in power. The congress is hell bent on "opening up" the economy and "reforms". Which to them means giving out all govt contracts and exclusive defence deals to the highest bidder to their Swiss bank accounts.

Expect a bulk of these contracts to go to companies in northern and western Europe, the exact same countries which are each small enough as not to be bothered about sustainable global trade practices. Expects a lot of these "MNCs" to keep all the high value jobs away from local economies. So expect a vicious cycle of greater trade deficit and joblessness.

[PDX]

So expect a vicious cycle of greater trade deficit and joblessness.

And how does this answer the original question ?

~~~PDX~~~

[PDX]

My take on this:

SEK is close to all-time high against EUR, but then EUR is weakening fast against USD and INR is sort of tied against USD... quite a complex situation.

In essence: expect a lot of volatility and do not try to predict the rate of your massive currency transfer.

~~~PDX~~~