US & Indian policy rates have seen similar trajectory. With Fed’s rate cuts, difference between interest rates in India & US may widen, leading to foreign capital inflow & stronger Rupee.
A Bank for International Settlements survey shows that, compared to last yr, world economies seems more likely to issue Central Bank Digital Currency (CBDC) in medium term than short term.
Gold’s ability to hold value in times of political and economic uncertainty makes it a favoured asset in central bank reserves. It is considered a long-term hedge against inflation.
Some of the world’s major central banks–such as US Federal Reserve & European Central Bank–are likely to avoid drama in their last set of meetings for 2023.
Several countries are calling for trade to be carried out in currencies besides the US dollar. But a survey of central bank currency managers shows the shift will be a slow affair.
Releasing Export Preparedness Index report, NITI Aayog CEO says Centre has ‘ticked a lot of boxes’, & responsibility of driving the next phase of export growth now rests with states.
The proposed project costing about Rs 3.25 lakh crore will entail procurement of 18 aircraft in fly away condition & the rest made in India with up to 60% indigenous content.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
COMMENTS