SC fixes US$ value at Rs 55 for calculating compensation to NRI

At a time of sharp devaluation of Rupee in comparison to US Dollar, the Supreme Court fixed dollars value at Rs 55 for calculating compensation to an NRI who lost his wife because of medical negligence of doctors in a Kolkata hospital 15 years ago.
The apex court accepted the claim of a US-based Indian-origin doctor that the loss of income of his wife, who was working in USA, be calculated by taking into consideration that the value of the Indian currency has gone down since the time when the incident took place in 1998.
"The claimant has rightly pointed that the value of Indian currency has gone down since the time when these legal proceedings have begun in this country. This argument of the claimant has been accepted by us while answering the point nos. 2 and 3(loss of income of the deceased). Therefore, it will be prudent for us to hold the current value of Indian Rupee at a stable rate of Rs.55 per 1$," the bench said.