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Indian Rupee: One Of The Worst Performing Currencies

The rupee is still overvalued, according to the 36-country Real Effective Exchange Rate calculation after adjusting for inflation

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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Not only have foreign institutional investors been pulling out funds from the Indian market, having withdrawn a whopping Rs 46,197 crore in three years, the spectre of higher crude prices due to the sanctions against Iran could disturb the applecart further considering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.

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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)

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How Masculinity is Used as Currency to Buy Sperm Donor’s Time

Sperm banks are able to procure sperm for free as long as they sell it as a way to affirm the masculinity of donors

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To overcome regulatory constraints and increase donor numbers, sperm banks in the UK and Australia began to market the act of donating sperm as a confirmation of masculinity. Pixabay

Sperm banks often use images and phrases associated with masculinity to procure sperm for free, new research has found.

“It’s interesting that sperm banks are able to procure sperm for free as long as they sell it as a way to affirm the masculinity of donors, especially in today’s context when the notion of masculinity is constantly challenged,” said study lead author Laetitia Mimoun, Professor at the University of London.

Globally, the sperm donation industry is valued at over $3.5 billion.

After analysing marketing strategies of sperm banks in the UK and Australia, the research team found they relied on masculine archetypes to create value for a commodity they couldn’t buy legally.

Masculinity, Currency, Sperm Donors'
Sperm banks often use images and phrases associated with masculinity to procure sperm for free. Flickr

“This is to say if you give your sperm you are a real man and you are better than all the other men who cannot do so for whatever reason,” Mimoun said.

To overcome regulatory constraints and increase donor numbers, sperm banks in the UK and Australia began to market the act of donating sperm as a confirmation of masculinity. This strategy relied on two archetypes of masculinity — the ‘soldier’ serving their country and the ‘everyday hero’ saving a damsel in distress, said Mimoun.

The researchers found campaigns employing the everyday hero archetype sometimes used hyper-sexualised or romanticised images of men to intensify their appeal.

Examples of this are found in campaign posters showing athletically built men in swimming trunks or underpants, but also in videos depicting men cooking barbecues or handing out roses to women.

Also Read- Bengaluru Doctor Hema Divakar gets Global Asian Award

The use of these marketing strategies had significant impacts on the sperm donation industries in both the UK and Australia, Mimoun said.

The study was published in the journal Marketing Theory. (IANS)