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Risk of US hiking rates drowns rupee

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Mumbai: The Indian rupee plunged to a new two-year low of Rs.65.69 to a dollar during intra-day trade on the foreign exchange markets on Thursday following apprehensions of a US interest rate hike and the continuing slide in the Chinese markets.

The rupee, however, later gained strength and closed the day’s trade at Rs.65.56 to a dollar.

Thursday’s intra-day fall mirrors the currency’s movements on Wednesday — when it had hit a fresh two-year low at Rs.65.44 to a US dollar.
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According to analysts, the rupee was impacted by the possibility of US raising its interest rate after a decade of easy financing.

The intent was made clear by the minutes of the last Federal Open Market Committee (FOMC) meet which was held on July 28-29.

Higher interest rates in the US are expected to lead the FPIs (Foreign Portfolio Investors) away from emerging markets such as India.

The other major catalyst for the rupee’s fall has been the devaluation of yuan, intended to boost Chinese exports and arrest the fall in the Chinese markets by pumping up the economy.

“Today, the Chinese markets continued their downward movement despite various measures taken by the government there. This shows that the problem is deep rooted and the impact might be much greater,” Anand James, co-head, technical research, Geojit BNP Paribas, told IANS.

Though unrelated, the stock market crash can prompt China’s central bank to further devalue yuan to propel the domestic economy.

The People’s Bank of China had devalued yuan by two percent on August 11. This was the biggest devaluation in the Chinese currency since 1994.

The currency fell again dropped by two percent on August 12 panicking the world economy.

The attempt is viewed as a tack-tick to corner the international export markets from other emerging trading powers such as India and the Asean (Association of Southeast Asian Nations) grouping.

The move has strengthened the dollar value, which has negatively impacted major world currencies including the Indian rupee.

The yuan has fallen by 4.6 percent till now since August 11.

(IANS)

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Hiring for Your Business? Get it Right First Time

If you can keep these things in mind, you should have no issues coming up with ideas that will help you to hire the right kinds of people for the business.

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Business
You have to keep in mind the fact that there are a lot of different types of people .Pixabay

There are so many things that you need to keep in mind these days if you are running a business, and one of the essential things is the fact that you need to get your workforce right. There are a lot of people out there who you will have the chance to hire for your business, and it is so important to make the right choice here. There are a lot of things to take into account when you are doing this.

Think about what you want to get from your employees, as well as what you can do to make sure you are focused on bringing things forward in a business sense. There are a lot of things you need to think about when it comes time to hire the right staff, and there are plenty of things to consider. This is how you can get right the process of hiring, and make sure you choose the right people.

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Small businesses take advantage of co-working spaces like this one, in Ho Chi Minh City, VOA
Interview Them Yourself

One of the best ways of getting this right is making sure you are focused on conducting the interview yourself. This is one of the best ways of getting a feel for the person you are interviewing and making a judgement about what you think they are like. There are so many things that might play a role in your decision-making, and you should consider what it takes to get this right immediately.

Background Checks

Think about carrying out a background check on prospective candidates before you actually commit to hiring. Of course, a more professional and in-depth one will be carried out once they accept the job, but you can conduct your own before even offering them the role in the first place. Carrying out an online people search can be an eye-opener when it comes to improving the way you conduct yourself as a business, and making the right choice for the future.

business
There are a lot of issues to keep in mind when you try to make a decision about who suits the business. Pixabay
Look at Their Qualifications

When hiring a person, it is important to make sure you keep an eye on their qualifications and suitability for the job at hand. There are so many different ideas and options that play a role in the employment process, but it’s clear that experience and qualifications play one of the biggest roles. So, you need to make sure you are looking at those people with the right qualifications.  

What is Their Personality Like?

Also consider what their personality is like and what you can do to ensure you are hiring someone who is going to fit. There are a lot of issues to keep in mind when you try to make a decision about who suits the business. This is why you have to make sure you keep this in mind so that you can hire the right sort of person for the task at hand.

Business
Think about what you want to get from your employees. Pixabay

If you can keep these things in mind, you should have no issues coming up with ideas that will help you to hire the right kinds of people for the business. You have to keep in mind the fact that there are a lot of different types of people, and the better you can do this, the better choices you will make.