Never miss a story

Get subscribed to our newsletter


×
Indian Rupee: One Of The Worst Performing Currencies. flickr

The Indian rupee’s plunge to an all-time low of 69.09 against the US dollar, compared to the previous low of Rs 68.865 in November 2016 reflects the ill-effects of US President Donald Trump’s disastrous economic policies on the world at large. Indeed, American protectionism through higher import duties coupled with the consequences of renewed US sanctions against Iran is indeed playing havoc with economies across the world. That the rupee has fallen by more than eight per cent over the last one year is not good news for India, though, there is a silver lining in terms of the possibility of higher exports. The hard reality is that the rupee is one of the worst performing currencies in the world and the consequences of American policies could make things worse.

Not only have foreign institutional investors been pulling out funds from the Indian market, having withdrawn a whopping Rs 46,197 crore in three years, the spectre of higher crude prices due to the sanctions against Iran could disturb the applecart further considering that India depends heavily on crude imports to meet its oil needs. If there is any consolation at all for the rupee’s plunge, it is that most emerging market currencies are crashing.



Indian currency notes. Pixabay

Also read: Crores of rupees being spent on defunct websites of Municipal Corporation of Delhi

The Reserve Bank’s prop by selling US$400 to 500 million in one-month futures contracts has saved the day for India. Almost an equal amount has been sold through Mint Street. Mercifully, a weak rupee need not be necessarily bad for the Indian economy. The rupee is still overvalued, according to the 36-country Real Effective Exchange Rate calculation after adjusting for inflation. As of May, the over-valuation was 14.67 per cent. This could give exports a boost which is a silver lining. There is also a Moody’s report which says that India is one of the five countries that are least vulnerable to currency pressures amid strengthening of the US dollar due to low dependence on external capital. But the downside is that as US interest rates go up, investors who borrowed at a cheaper rate would find returns from investing in India not worth the risk. On balance, major economic challenges lie ahead of India meeting with would be no mean task. (IANS)


Popular

wikimedia commons

Recently, Tom and Jerry was made into a live action film

Every child who grew up in the 90s and the early 00s has certainly grown up around Tom and Jerry, the adorable, infamous cat-chases-mouse cartoon. The idea of naughtiness and playing mischief had the standards that this particular series set for children and defined how much wreckage was funny enough.

The show's creators, William Hanna and Joseph Barbera initially named their characters Jasper and Jinx. They did not plan for the fame that Tom and Jerry brought them when they released a movie by the name of "Puss Gets the Boot". This movie featured a certain cat and mouse who were a notorious pair, named Jasper and Jinx. When the movie became a hit, the names of the characters were changed and the show shot to fame.

Keep Reading Show less
Photo by Unsplash

Indians Rarely Make Time For Arts And Culture, Says Survey

One of India's leading private museums, the Museum of Art & Photography (MAP) Bengaluru, has released new primary research conducted by the ReReeti Foundation, on audience behaviour in India's cultural sector. While more than half of the respondents thought the arts and culture are essential, they rarely manage to make time for it. The majority (60.6 per cent), mostly young people under 30, felt Indian museums could present more engaging content, and most perceived culture as anthropological/ sociological. Of the diverse categories included, music emerged as the most popular cultural activity.

The report is based on a survey of 500 people, which included school and college students, professionals across sectors, homemakers and senior citizens. The first initiative of its kind in the cultural space, the report shares valuable insights into the behaviour and expectations of Indian audiences engaging with a broad range of cultural activities. As part of MAP's mission to foster meaningful connections between communities and the cultural sector globally, which includes its innovative digital programme Museums Without Borders, the report shares a wealth of insights that can help museums across the country understand their audiences better. As much as 60.6 per cent said Indian museums are not experimental enough, and can do more to create engaging content that is also relevant to surrounding communities.As much as 60.6 per cent said Indian museums are not experimental enough, and can do more to create engaging content that is also relevant to surrounding communities.

Keep Reading Show less
Photo by alexey turenkov on Unsplash

What is the best way to save Goa from deforestation?

What is the best way to save Goa from deforestation?

Drinking feni, may well be the answer, says the secretary of the Goa Cashew Feni Distillers and Bottlers Association Hansel Vaz, who on Thursday said, that sipping the state's unique alcoholic drink and making it popular would directly aid the greening of Goa's hills and other barren landscapes.

"To get more cashews, we need to plant more trees. I always say, by drinking feni you will save Goa, because we will be planting more cashew trees and we will have greener hills. The beauty of cashew is you do not need fertile land. You can grow it on a hill which can provide no nutrition. We will be able to grow more trees, if we can sell feni properly," Vaz said. Vaz's comments come at a time when the hillsides of the coastal state have witnessed significant deforestation for real estate development and for infrastructure projects. Feni is manufactured by fermenting and double distilling juice from the cashew apple.

2 glasses of a white drink Best way to keep Goa green is to grab yourself a glass of feni. | IANS

Keep reading... Show less