An American Mutual fund company invested USD2000000 in BSE on 31.12.2007 when the BSE sensex was 20000 points. On 31.03.2008, the company observed that its portfolio depreciated by 23% when the BSE sensex touched 16000 points. If the company decided to withdraw the investment from India, what would be the net increase or decrease in their investment in terms of dollar?
$/Rs spot rates are quoted as:
On 31.12.2007: 48.30/.35
On 31.03.2008: 47.05/10
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