Bitcoin Price Skyrockets — Touches $2860 Across Global Exchanges – Bitcoin News

The bitcoin logo

The bitcoin logo (Photo credit: Wikipedia)

Here’s some breaking Bitcoin news. On June 5 Bitcoin has once again broken another all-time high touching $2870 across global exchanges. The decentralized currency’s price has jumped leaps

Bitcoin Price Skyrockets — Touches $2860 Across Global Exchanges – Bitcoin News

Speculators are piling in to Bitcoin. Yes, the technology is exciting and the potential is enormous but is it a bubble waiting to burst?

Thoughts?

Record Fall in Indian Rupee: Implications for Indian Outsourcing Industry?

Outsourcing to India

Outsourcing to India (Photo credit: markhillary)

Yesterday, I reblogged a Reuters‘ article entitled “Indian rupee sags to record low despite government steps“.

Traditionally, when currencies fall the cost of imports rises but it becomes easier for exporters to World markets. In recent years, one of India’s biggest growth industries has been the outsourcing industry. Outsourcing basically sell services overseas, so it’s an export; so Indian outsourcing will benefit from the lower Rupee?

India’s outsourcing industry has run into difficulties in recent years. Costs have risen on the back of inflation and World markets have continued to question service levels, so there has been a trend from offshoring to the likes of India to nearshoring or indeed reshoring services back to developed countries. Also China has been going head-to-head with India to secure a share of the global outsourcing market and China could well be the eventual winner.

So is the lower Rupee good for Indian outsourcing?

The answer is probably not. Contracts are for long time periods, possibly priced in US Dollars and may well preclude foreign buyers from benefiting from the lower Rupee rate; so this will cause buyers to question further the effective offering of the Indian outsourcing sector focusing on the negatives.

Let me turn this to an open question:

Will Indian outsourced service providers benefit from the lower Rupee?

Any thoughts?

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