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.
Forex traders said a positive start of domestic stocks supported the local unit, while it was affected by sustained foreign fund outflows and concerns over Covid-19 crisis.
Forex traders said the weakness in the rupee was largely due to strengthening of the US Dollar against a basket of currencies as investors fled to safe haven greenback.
In an interview to ThePrint, former Niti Aayog vice-chairman Arvind Panagariya welcomes rupee depreciation as it will make Indian exports more competitive.
Weak governance, corruption and poverty continue to define tribal life in India. The introduction of industrial and mining projects has benefited contractors, politicians and officials more than Adivasis.
Clean energy is “no longer the sideshow, it is the show”, BVR Subrahmanyam told the Odisha summit, warning India to lead the global shift or risk others’ tech dominance.
Dubai airshow crash & pilot death have rekindled concerns over pilot safety, and need for smarter automated systems that can step in when G-forces, temporary loss of consciousness hit the pilot.
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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