Tag Archives: sterling

This is it. Day Zero.

This is an email I sent to every single contributor to Project Hope on September 8, 2013.

 

Hi,

I fly to London tonight.
To be honest, there was a point in the past month when I thought that this email will never happen. But here it is.
Thank you once again. In its truest sense believe me that this wouldn’t have been possible if not for your unconditional support. I am overwhelmed by your love. Definitely my past life’s karma is paying me off.
After being in touch over the past months I am sure you have realised how dramatic I am (cues in some Gothic music), hence I am christening today as Day Zero.
This is where it begins.
Cheers!

 

Pound touches 100

This is an email I sent to every single contributor to Project Hope on August 19, 2013.

 

Hi,

Six months ago when I sat down to budget this MA plan I had to take a worst-case scenario. I took 100 rupees to a pound. Today this nightmare has come true. It is not that I don’t have this money. The question is whether I am being arrogant by still going ahead with it when affording it means looking like a fool.
This is not the first time I am apprising you the currency fluctuation. Some of you replied after my earlier email that I should have handled currency volatility by certain methods. Although, it is really not in my hands. The visa rules needed money to be in the account for a specific period of time. This means that I had no option but to see the rupee slide and see Project Hope expense swell like its been stung by a bee.
By the time I came to a stage where I could buy pounds it had already crossed 92. Obviously I made a mistake by hoping that the RBI guidelines and the government’s actions might come to the rescue.
The question is whether Project Hope is tenable? Am I being pure foolish if I don’t abandon this now? 
Sometimes one needs to go by the gut feel and discard the economic tangent. I am beginning to feel that the increase in monetary implication cannot be ignored anymore.
I am trying to find answers to the above asked questions. Its my job to keep you posted, hence this email. I will communicate my final decision by the end of the week.
Regards,

At What Cost?

This is an email I sent to every single contributor to Project Hope on June 20, 2013.

 

Hi,

To begin with, there are a few who are getting this email for the first time. Well, all of you are getting this particular email for the first time but you have been getting this newsletter kind of email for sometime now and some are receiving it for the first time.

The world has changed since I last wrote to you. And it has changed a lot. Do we change with the changing times or should we act like the stiff tree and stare at the risk of being uprooted?

I started Project Hope in January. The weather was pleasant back then. So was the journey. By March, Mumbai was scorching hot and incidentally the well of Project Hope began to dry up. Everyone waited for the monsoons. Project Hope, too, waited. It arrived. By now the weather and Project Hope were tied to each other’s fate. What followed was torrential rains. We are in the midst of it. How could Project Hope not react to it?

In January, the rupee to a pound was at around 82. I budgeted at 86. Today, pound closed above 92.

What does this mean? This means that my entire expense of 23,000 pounds goes up by Rs 20,000 each time the pound gets stronger by Re 1. If I was spending Rs 19,80,000 when pound was at 86, I am spending Rs 20,00,000 when the pound reaches 87.

Currently, one pound costs Rs 92.

At this point in time I am forced to rethink. Is this too expensive? Is this even a valid question? Am I acting plain stupid now?

The cost-benefit analysis clearly is against this. But I am glad I am not good at this cost-benefit analysis. The returns on imagination is far greater than any the numerical projections.

To some this might look like my plea to ask for more money. I am not asking you for any more money. ‘From the burrow I fell. To the Earth’s core. I did not burn. I got stronger. For I was sand before.’ (Sorry, couldn’t help at trying my hand at a few lines. Clearly, poems are not for me. Also, chemistry is not one of my strong points.)

Moving on.

Although a couple of days ago I did tweet about restarting Project Hope but aborted that plan. Coming back to Twitter to find this money somehow felt like a dent to my credibility. Now you may ask that I am whining about rupee-pound on Twitter all the time. “Yeah, I am working on it,” I would say. Habit of 26 years won’t go in a day. Bear with me.

With this email, I am apprising you of the current position of Project Hope. Turning back from here is not an option. I am not turning back. We have found Rs 24 lakh and this rupee volatility is not going to stop us.

Once again, thank you for being part of this extraordinary journey. My next email to you will be of the visa stamp.

Regards

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