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Rupee Depreciation Against Dollar Leads to Sharp Rise in Crude Prices

The rupee lost heavily towards the end of the week - over 70 paise in the last three trading session.

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rupees, Dollar, Currency
The currency losing against the dollar and rising crude oil prices was a double whammy for the bond markets. Pixabay

In a choppy week’s trade, the Indian currency weakened against the US dollar to close above the 71 a dollar mark on Friday, owing to a sharp rise in crude oil prices, turmoil in the equity markets and uncertainty around the US-China trade relations.

In what could translate into further trouble for the domestic currency, analysts see an upward move of 6 to 7 per cent in the Brent crude prices in the coming week.

The rupee lost heavily towards the end of the week – over 70 paise in the last three trading session – as traders reacted to the sanction on Venezuela and production cut by OPEC and Saudi Arabia.

Sajal Gupta, Head Fx & Rates Edelweiss, said “technically … crude now looks set for another 6-7 per cent rise” which would mean that the rupee was likely to depreciate further in the coming sessions. “And if Rs 71.80 per dollar is broken, we can head towards Rs 72.50 mark.”

Rupee, Dollar, Currency
The rupee lost heavily towards the end of the week – over 70 paise in the last three trading session. Pixabay

Among other factors impacting the currency, Gupta said, with crude and dollar index giving breakout, rupee would remain under pressure. Trade deficit data released on Friday post market was also not very encouraging with monthly deficit touching almost 15 billion dollars.

“Political tensions would also remain heightened with key leaders vowing strong retaliation in wake of the biggest terror attack in the Kashmir valley.”

Explaining the factors which has caused volatility, Anindya Banerjee of Kotak said the currency markets largely depend on the capital flows … and right now the fear of a possible retaliation by the government in response to the Pulwama attack is having an affect.

“The context of the whole event is also important because (Lok Sabha) elections are around the corner,” Banerjee said.

Also, the currency losing against the dollar and rising crude oil prices was a double whammy for the bond markets, he added.

On the global front, discussing the factors affecting the currency, Banerjee said, the Chinese economy was very fragile right now and moreover investors were looking for developments in the US-China trade talks.

Rupee, Dollar, currency
India on Friday revoked the Most Favoured Nation Status (MNS) of Pakistan which has led to decline in equite markets for 6 straight years. Pixabay

However, Gurang Somaiya, currency analyst, Motilal Oswal, felt that the rupee was protected from any major weakness as “Foreign Institutional Investment (FII’s) came around good”, especially in February.

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According to data from the bourses, FII has seen inflows worth Rs 1,096 crore in February.

India on Friday revoked the Most Favoured Nation Status (MNS) of Pakistan and has warned that more stern actions will follow the attack in Pulwama. Additionally, equity markets have declined for 6 straight sessions showing weak investor sentiments. (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.

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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)