Rupee had a major fall this week, led by strong US macro data, rising crude prices. China's currency moves, Japan’s possible rate hike & domestic growth concerns may maintain pressure.
Global media also highlights India’s growing military presence in the Indian Ocean, with recent naval manoeuvres and ongoing tensions with China shaping its strategic stance.
Global media also offers insight into why India is reaching out to the Taliban now, 3 years after Kabul fell & how Modi govt's 1st Kumbh is also the most politicised.
With Sanjay Malhotra at the helm, RBI could shift towards a more dovish monetary policy, but the conventional policy response of rate cuts will not be a given with rising pressure on rupee.
Central banks can intervene in forex market to influence exchange rate. Analysis by ThePrint shows RBI has been doing this for months, but last week saw rupee fall sharply nevertheless.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Rupee opened at 83.78 to US dollar compared to previous close of 83.75. Selloff in US & Asian equities following disappointing jobs report spurred worries of foreign outflows from India.
In 2022, athletes claimed they were asked to wind up training early at Thyagraj Stadium so that the IAS couple could walk their dog. Then came the memes and public outrage.
Instead of buying more Mirages outright in early 2000s, the requirement was tweaked in favour of a medium-weight, multi-role fighter with Mirage-like performance.
Pakistan not only has zero chance of catching up with India in most areas, but will inevitably see the gap rising. Its leaders will offer its people the same snake oil in different bottles.
COMMENTS