Ahead of August's BRICS Summit in South Africa, country's High Commissioner to India, Joel Sibusiso Ndebele, also spoke about African peace initiative in Ukraine & defence cooperation with India.
After a week of turmoil in markets over bank failures in major economies, Asian shares and currencies rebounded on Friday, as the dollar index fell 0.3%.
India's forex reserves have been consistently depleting for the past few months, on account of RBI's likely intervention in the market to defend the depreciating rupee.
India’s macroeconomic fundamentals continue to remain strong. Going forward, the recent moderation in the international commodity prices should slow down the slump.
The Ukraine war has exposed the imbalance in the global financial system run primarily by the West. When the West decides the course of a currency, others must take it as given.
Cash from international institutions & donors has underwritten Afghanistan’s financial system for decades. Any Afghan govt will come to realise that US is key to financial & economic security.
RBI Governor Shaktikanta Das said emerging markets need to build reserves as buffers against external shocks even at the risk of being added to US' watchlist for currency manipulation.
A lack of global alternatives helps explain some of the dollar’s role. The euro’s status as a reserve currency remains limited & China’s currency is still subject to capital controls.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
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.
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