Emerging markets have reasons to be wary of MMT. While every country prints legal tender & collects taxes in its own currency, not all can borrow in them.
RBI seeming to opt for a hands-off approach, which could lead to faster appreciation of rupee. On Tuesday, the currency posted its biggest single-day gain in 21 months.
The prospect of a rare current-account surplus following robust foreign inflows & global oil-price collapse will help nudge the rupee higher, analysts say.The prospect of a rare current-account surplus following robust foreign inflows & global oil-price collapse will help nudge the rupee higher, analysts say.
Rupee has stronger link with growth & metrics like current account, balance of payments & global dollar dynamics have marginal impact, says Venkat Thiagarajan.
Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over Covid weighed on the local unit.
Forex traders said that besides the encouraging results in vaccine trial, higher opening of domestic equities and a weak greenback in overseas market supported the local unit.
Forex traders said positive start of domestic stocks and improved market sentiments with countries gradually lifting lockdowns supported the local unit.
Forex traders said the rupee is trading in a narrow range as losses in the greenback supported it, while weak domestic equities weighed on the local unit.
Our study presents evidence suggestive of the fact that farmers who demonstrate greater knowledge about the importance of potassium tend to achieve higher yields and revenues.
Open to public feedback until 26 November, the revised guidelines, among other changes, give CA firms more flexibility to advertise & promote their services.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
This post does not understand MMT. Argentina is crushed by debt because its debt is denominated in foreign currencies, mostly U.S. dollars. The same is true of India. Monetary sovereignty requires a truly fiat currency, which means it cannot be tied to any foreign currency, and that includes debt agreements. The U.S., by contrast, never agrees to pay any debts in foreign currencies. The discrepancy is largely because A) the U.S. and IMF work against foreign monetary sovereignty, and B) politicians at all nations are only just beginning to learn what “monetary sovereignty” is and why it’s important.
India should not take on any new dollar-denominated debt, and the IMF, aka the U.S. and Brussels, should not force it to. Over time it will reach the same level of currency issuer sovereignty as the U.S.
This post does not understand MMT. Argentina is crushed by debt because its debt is denominated in foreign currencies, mostly U.S. dollars. The same is true of India. Monetary sovereignty requires a truly fiat currency, which means it cannot be tied to any foreign currency, and that includes debt agreements. The U.S., by contrast, never agrees to pay any debts in foreign currencies. The discrepancy is largely because A) the U.S. and IMF work against foreign monetary sovereignty, and B) politicians at all nations are only just beginning to learn what “monetary sovereignty” is and why it’s important.
India should not take on any new dollar-denominated debt, and the IMF, aka the U.S. and Brussels, should not force it to. Over time it will reach the same level of currency issuer sovereignty as the U.S.