HSBC and Nomura analysts say the rate hike bolsters the RBI’s credentials on the inflation-fighting front, which will have a rub-off effect on the rupee.
The rupee is Asia’s worst performing currency this year, and it will be further affected by higher global crude oil prices. The central bank may need to act early to maintain macro-economic stability.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
70 is a psychological number the government and the RBI would wish to avoid being breached. They are right to prevent a self fulfilling cycle of panic setting in. FPIs have taken out about $ 7 billion in the last few months. Even so, the RBI should conserve its forex reserves. It could open a window, selling dollars directly to oil importers, taking their demand off the market. Sovereign bonds are better not issued at this stage, when the government is paying 8% on its borrowings. It would be seen by some as firing a distress flare.
EXCELLENT!
70 is a psychological number the government and the RBI would wish to avoid being breached. They are right to prevent a self fulfilling cycle of panic setting in. FPIs have taken out about $ 7 billion in the last few months. Even so, the RBI should conserve its forex reserves. It could open a window, selling dollars directly to oil importers, taking their demand off the market. Sovereign bonds are better not issued at this stage, when the government is paying 8% on its borrowings. It would be seen by some as firing a distress flare.