Moreover, India’s tight capital controls, management of the rupee and, importantly, a smaller share of global exports run counter to aspirations of making it an international currency.
For this financial year, the rupee is down about 11% against the dollar, broadly in line with other major Asian currencies such as the offshore Chinese yuan and the Korean won.
During the week ended 29 May, RBI data showed foreign currency assets, a major component of the overall reserves, increased by $3.50 billion to $455.21 billion
By turning a blind eye to the snakes in his own backyard, Trudeau is setting the stage for a disaster of epic proportions for his country, his people, and the world at large.
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.
While there are patrolling points (PP) 10, 11, 12, 12A and 13 in the Depsang Plains, the patrol in the region Monday was carried out to only one point as decided by India and China.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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