If you have a look at this article, it says the Rupee gained 18 paise against the dollar.
Let's make a few things straight
1 Rupee = 100 paise
Is it possible for rupee to gain 18 paise and equal 118 paise. It's rubbish. It is impossible for a currency to appreciate against another currency in its own terms.
What the newspaper tries to explain is that, 1 USD has depreciated by 18 paise.
The newspaper here tries to put the information in terms of Rupee. Then, the article should have said Rupee gains xxx cents. But this is not practical because the cent gain by Rupee will be very very little, hence the mistake these people do.
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2 comments:
I see that you are indeed jobless... at least till your joining date... Can i say that the dollar is costlier by so many rupees/ paise... assuming that the dollar is like any other product.
assume that the price of a dollar was 52 rs... now it is 52.18... so the dollar is costlier by 18 paise...
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