Weak rupee made three Indian metros cheaper for expatriates

A weakening rupee has made four Indian cities, including New Delhi and Mumbai cheaper for expatriates to live in, even as many Asian cities have turned expensive.

Global HR services firm Mercer's survey of 214 cities worldwide has ranked Tokyo as the most expensive, while Karachi is the least costly place for expatriates.

According to the Mercer 'Worldwide Cost of Living Survey 2012', the rankings for Indian cities are as follows:

Worldwide Cost of Living Survey 2012
Indian Cities	Rank (2012)	Rank (2011)
New Delhi	113	85
Mumbai	114	95
Bangalore	187	180
Kolkata	208	203
Chennai	190	194

The reason why Indian cities are going down in rankings when compared to last year (except Chennai) is due to the weakening of the rupee against the US dollar by more than 8.5 per cent in one year.

There are five Asian cities in the top ten most expensive places to live in for expatriates. "In Asia, more than six in ten cities moved up in the rankings, including all surveyed cities in Australia, China, Japan and New Zealand.

Compared to New York, most European cities have witnessed a decline in the cost of living.

The annual rankings measure the comparative cost of living for expatriates in 214 major cities. It focuses on comparing the cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.

The ranking depends on the relative strength of a currency against the US dollar during March 2011 to March 2012. Further, price movements over the 12 month-period compared to those in New York City as the base, is also taken into account.

http://businesstoday.intoday.in/story/weak-rupee-makes-delhi-mumbai-less-costly-for-expatriates/1/185454.html