IPL 2014 auctions to be held in Rupees
The fluctuating INR-USD exchange rates have triggered IPL auction, from 2014, to be conducted in Indian rupees rather than in US dollars.
In its inaugural auction in 2008, IPL had a standard rate of Rs 40 per dollar irrespective of the market value of the currencies. To this day, Indian cricketers are paid at the same rate. But as the rupee’s value fell drastically, team owners had to shell out more for foreign cricketers.
The IPL governing council is considering the move to Indian rupees to help the franchises get a clear idea of what a player’s actual salary will be.
Auction in 2013 is said to be held in dollars but from 2014 onwards, when the contracts of all cricketers come to an end, players will be paid in Indian rupees.
Most of the IPL teams want all the players in the auction pool at the 2014 auction and the BCCI is giving it a thought. One more demand has come that the Indian domestic cricketers should be given more chance in the auction.