Growing Rupee and growing concerns

Currency Conundrum: Is the strong Rupee Good or Bad for India? This article discusses the ups and downs of the rupee appreciation but itseems to lack the other side of the story. The problem has to do more with depreciating dollar than it has to do with appreciating rupee. Dollar is falling against all major currencies while rupee rise is significant against dollar only and not pound or euro. The dollar side of the story

Coming to the I.T. chapter of this article, one good thing is that in recent years, the non-US clients have started paying in local currencies. A few years ago most european and asian clients would pay in US dollars, and if that situation were to exist today, then the dollar depreciation would have had far severe impact.