RBI, of course, has been steadily buying dollars—its reserves have risen by over $1 billion for seven straight weeks—no doubt aware that a stronger rupee would be disastrous for both the export sector, and local manufactu
Today, Istanbul is an amazing place, a wonderful blend of khandani and hip, reflected in the extraordinary traditional architecture sitting side by side with very sophisticated contemporary art; in sync, the people live a sen
In the end, nationalism will always fail both because it is antithetical to the human spirit and also because, being inward-looking and exclusive, it leads to poor—and, sometimes, disastrous—economic outcomes.
After every sharp decline, there is a reaction; and, after the reaction runs its course, the rupee continues back down—usually below the previous all-time low but, at the very least, back to that level.
The trade war rhetoric may result in the dollar weakening to address Trump’s focus on bilateral trade deficits and there is talk about the US Treasury intervening in currency markets for the first time since 1985.
It is the nature of the beast that we use events—like the day you were born—to define nodal points, even though the actual starting point was likely much earlier, when your mother and father met, for instance.
It is blindingly obvious that there is nobody in charge, or that those in charge really don’t give a shit, or that local hoodlums persist in such activities because they are encouraged by those in charge.