Will 70 to a dollar be the new normal for the Indian currency?
A question popped up after the rupee plummeted to new depths in mid-August—70.80 to a dollar, the first time in its history. Should we brace for the 70s to be the Indian currency’s newest norm? No doubt, the rupee rebounded and drifted under 70 for most of the month, with the exception that it breached the mark in noon trade on August 29. But the swings reinforced fears that it could break into the 70s again because of volatility caused by global factors— the latest being US-China trade curbs, sanctions on Iran and a mismatch in demand and supply of oil.
D.K. Srivastava, chief policy advisor with EY India, expects the rupee to move around 70 at least for a quarter. He explains: “India has had a higher inflation rate compared to the US. Our inflation is about five per cent, while it’s two per cent or so for the US. The longer-term average should settle after we account for a three per cent differential. So, I would expect Rs 70 to a dollar would be the new normal.”
Denne historien er fra September 10, 2018-utgaven av Outlook.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 10, 2018-utgaven av Outlook.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Trump's White House 'Waapsi'
Donald Trump's victory in the US presidential election may very well mean an end to democracy in the near future
IMT Ghaziabad hosted its Annual Convocation Ceremony for the Class of 2024
Shri Suresh Narayanan, Chairman Managing Director of Nestlé India Limited, congratulated and motivated graduates at IMT Ghaziabad's Convocation 2024
Identity and 'Infiltrators'
The Jharkhand Assembly election has emerged as a high-stakes political contest, with the battle for power intensifying between key players in the state.
Beyond Deadlines
Bibek Debroy could engage with even those who were not aligned with his politics or economics
Portraying Absence
Exhibits at a group art show in Kolkata examine existence in the absence
Of Rivers, Jungles and Mountains
In Adivasi poetry, everything breathes, everything is alive and nothing is inferior to humans
Hemant Versus Himanta
Himanta Biswa Sarma brings his hate bandwagon to Jharkhand to rattle Hemant Soren’s tribal identity politics
A Smouldering Wasteland
As Jharkhand goes to the polls, people living in and around Jharia coalfield have just one request for the administration—a life free from smoke, fear and danger for their children
Search for a Narrative
By demanding a separate Sarna Code for the tribals, Hemant Soren has offered the larger issue of tribal identity before the voters
The Historic Bonhomie
While the BJP Is trying to invoke the trope of Bangladeshi infiltrators”, the ground reality paints a different picture pertaining to the historical significance of Muslim-Adivasi camaraderie
