Central banks have been turning away from dollar, shifting to gold. Stalemate on debt ceiling in US could push countries like Japan, China to use their own currencies for foreign trade.
The rupee was down 0.5% to the dollar and has been an underperformer among Asian peers. The offshore Chinese yuan was up 0.9%, leading Asian currencies higher.
This comes as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for any signs of an intervention from Japanese authorities.
These reserves have declined to $110 billion from a peak of $642 billion in September last year, largely due to the fall in the value of holdings in dollars & other currencies.
Mumbai: The Indian rupee could drop to 84-85 to the dollar by March due to rising crude oil prices, high trade deficit and depleting foreign exchange reserves,...
The rupee went from less than 82.60 to above 82.40 in the space of less than ten minutes Monday. It hit a record low of 82.6825, before easing to last trade at 82.38.
RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.
With US Fed hiking rates, RBI might be pushed to increase its own rates to slow simultaneous fall of rupee & India's forex reserves. But this could also hurt economic growth.
The Indian planning system did not encourage individuals based on ‘what they knew’, but on ‘whom they knew’. Many left for countries that recognised their talent.
The new law, which the government has framed as a moral duty, forced major platforms like Dream11 & Zupee to shut operations, wiping out hundreds of crores in market capitalisation.
Joint Doctrine for Special Forces Operations, released Wednesday, also outlines plans for the future expansion of AFSOD and the creation of Joint Service Training Institutes.
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
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