The India Rupee has also traded in the extreme. As the Bombay Sensex Index zoomed in the 2H05, the Rupee was dropping like a stone against the USD. But in the past couple days, there has been a massive reversal.

Here are the news reports on the fund distributions from IIF and IFN:

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Morgan Stanley India Investment Fund, Inc. (NYSE: IIF) today declared a year-end dividend of $0.2093 per share of net investment income, $0.3534 per share of short-term capital gains and $3.1033 per share of long-term capital gains.

The India Fund, Inc. (NYSE: IFN) announced today that it would declare a dividend of $4.46 per share payable in cash on January 12, 2006 to the shareholders of record on December 30, 2005. The ex date of the dividend is December 28, 2005. The dividend represents the estimated net investment income for the 2005 calendar year.

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Here is the USD: IDR (Rupee) chart:

Here is the chart of the Hourly and Daily price data for IIF and IFN:

Interactive Hourly Data Chart

Interactive Daily Data Chart

Here are the charts of the Bombay Sensex Index:

Five-Day Chart

Six-Month Chart

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In 2006, I will devote considerably more time to this market. Kaushik Gala (Galatime) and I will be collaborating. Kaushik has returned to India to work full-time. His blog, which had been focused on options, will now be specializing on India stocks. Now that I have a solid source of local info, I will make a much bigger commitment to the India market.

Kaushik will be the Monitor of the India forum at the re-organized BillCara2006 dot com site. I'm really looking forward to building informed interest in this emerging market.