Both the government and the RBI are currently so focused on their respective targets that they are losing sight of the fact that some flexibility might actually be a good thing.
ThePrint analysed exchange rate & trade data from April 2012 to September 2022, which shows there’s little relation between the rupee movement and performance of exports.
The rupee dropped to a record low of 82.6825 on Monday, but has managed to recover slightly, thanks to likely intervention by the Reserve Bank of India, which offset trading volatility.
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.
IMF’s World Economic Outlook has flagged concerns about a global recession. This should worry US & advanced economies but probability of recession in India seems low.
While RBI move to allow export/import to be invoiced in Indian rupee will solve some problems, there is no guarantee it will circumvent payment issues with Iran or Russia.
In conversation with ThePrint Editor-In-Chief Shekhar Gupta & Senior Associate Editor Manasi Phadke at Off The Cuff, MD & CEO of Centre for Monitoring...
Indians see West Asia as one uninterrupted wash of Islam, but the reality is more complex. For the Druze, support from Israel—where they are a recognised minority—is now critical.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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