• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Variety
• Columns
• States
• Web Extras
• Index

• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

• Rates

• Ports

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Subscription

• Business Line

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

CHANDIGARH: Money Exchange business firm Paul Merchants Ltd on Friday announced 90 per cent jump in inward remittances and 35 per cent rise in its revenue in 2008 primarily because of appreciation of US dollar against rupee.

“With the US dollar appreciating hugely against rupee this year, our inward remittances from NRIs has jumped by 90 per cent from January 2008 till October 2008, compared to the year-ago period,'' Paul Merchants Chairman and Managing Director S Paul told reporters here on Friday.

He further said NRI recognised that because of the appreciation of dollar, they would be getting more money in rupee terms which encouraged them to send more dollars to India.

However, he refused to reveal the amount of inward remittances the company received this year citing RBI's restrictions. Out of total the remittances, the company received 60 per cent from NRIs settled in West Asia and 40 per cent from USA, Canada, Engl and, Italy, Greece and Australia. – PTI

Prev: Bin Laden is being isolated: CIA
Next: Meghalaya amends VAT to boost revenue

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line