Representative Image In the August Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said that the Indian Rupee (INR) has fared “much better than several reserve currencies as well as many of its EME and Asian peers”. The Governor also added that the INR has depreciated “more on account of the appreciation of US dollar rather than weakness in macroeconomic fundamentals of the Indian economy”. Of late, there has been a lot of discussion around the INR. Towards the end of July, the rupee touched 80 against a US dollar , leading to discussions that it is a sign of a weakening Indian economy. But, is this the case? First, exchange rate increasing or decreasing against a foreign currency is not a sign of weakness or strength. In fact depreciation of the currency is often cited as a positive development for the domestic economy. If a currency depreciates against a foreign currency, the exports become cheaper with respect to the other country, and imports … [Read more...] about USD vs INR | India’s macroeconomic fundamentals are strong
Why is roe vs wade so important
- A + A MOSCOW (Aug 9): The rouble firmed towards 60 against the U.S. dollar on Tuesday, retaining support from capital controls and high prices for oil, Russia's key export, while stock indexes were mixed as the market lacked momentum. At 0738 GMT, the rouble was 0.6% stronger against the dollar at 60.40, trading in a range between 59 and 62 for the sixth day in a row. Against the euro, the rouble firmed 1.2% to 61.48 , well above the record low of 132.42 it hit days after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. The rouble is the best-performing currency so far this year as it received a boost from the capital controls Russia imposed to shield its economy and the financial system from sweeping western sanctions. However the rouble may gradually weaken in the near term given the lack of news triggers and the fact that the monthly tax payment period that usually boosts demand for the currency will only start later in August, analyst at … [Read more...] about Russian rouble firms towards 60 vs dollar, stocks mixed
Share to Twitter Share to Linkedin Thursday, Florida Governor Ron DeSantis purged Tampa’s elected prosecutor, Andrew Warren. Warren had pledged not to prosecute people who seek and provide abortions. Warren had not actually had any such cases before him. DeSantis is, of course, vying for the Republican nomination for President in 2024. DeSantis has been taking shrill steps – Warren called this a “political stunt” - to woo the future primary voters, and to fundraise from those well off, with Trump views. Still, there is a real clash here. There are many blue enclaves in red states, like the Democratic cities in Republican Texas. Since the Supreme Court overruled Roe v. Wade there will be a new world of potential for prosecuting women or doctors or their helpers, even out-of-state helpers or organizations, for any part in abortions. It is entirely possible this is the first of many clashes between red state Governors and State Legislatures and … [Read more...] about DeSantis May Lose Suit By Tampa Prosecutor He Fired For Pro-Choice Stance
Share to Twitter Share to Linkedin Latin America is going bad – very bad. Many of the region's large economies have lurched toward leftist populism in recent years. With the election of former guerrilla leader Gustavo Petro to the presidency, Colombia seems to be another victim of the trend. But for such leftists, the big prize is still to be captured: Brazil. With almost half of South America's economy and population and bordering ten countries, what happens in Brazil is always relevant for the Americas and the world. The country's upcoming presidential election is a case in point. The two leading candidates, Luiz Inácio Lula da Silva and Jair Bolsonaro, both have plenty of detractors. Local and foreign media cover their campaigns and road to the election. There is seldom coverage of those who work outside the political party system to try to influence Brazil's future. I want to highlight some of them here. I will only focus on non-religious organizations … [Read more...] about Promoting The Free Economy In Brazil
This story is part of Fast Company’s Most Creative People in Business 2022 . Explore the full list of innovators who broke through this year—and had an impact on the world around us. advertisement advertisement Picture the coolest, most ridiculously awesome room you can imagine. Maybe it’s got a golf simulator and a billiards table, or radiant-heat floors, or polychromatic India Mahdavi furniture, or meticulously cultivated hygge. Whatever it is, whatever you’re envisioning, it would be even better if it had a secret door leading to another room. And of course, a secret door has to reveal itself in some sick way, like how you run through a wall to get to track 9 3⁄4, or wade through a coat closet to get to Narnia, or turn a bronze eagle on a bookshelf, or push the correct button on a soda machine. It can’t just be a switch labeled secret door, though that’d be kind of funny. That kind of meta humor would be very on-brand for Mark Rober, except … [Read more...] about How Mark Rober became the Willy Wonka of engineering
Congress has spent the last few weeks hammering out next year’s authorizations and funding decisions. advertisement advertisement On the policy side, CHIPS and Science passed in both the House and Senate last week. On the funding side, policymakers have been reviewing and amending next year’s National Defense Authorization Act (NDAA), which will provide funding for military space programs. CHIPS and Science The finalized Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act included an authorization bill for NASA–the first new authorization the agency has received in more than five years. Authorization vs. budget: The authorization bill under the CHIPS act is a policy bill, meaning that it didn’t provide or recommend any new funding to the agency. NASA’s funding is determined through the President’s federal budget request , which was released in late March for FY23. advertisement Instead, the authorization … [Read more...] about Congress is busy considering space funding and authorizations
Dear Reader , The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. In a case of how cheer for the economy may not be so for markets, investors in US stocks fretted over excellent jobs data. US businesses added 5,28,000 jobs in July, beating most estimates by an embarrassing margin. US 2-year treasuries rose after the report, as the market priced in a more certain likelihood of another 75-basis point rate hike by the US Fed. But the S&P 500 slipped, as investors pondered over what too strong an economy could mean for interest rates. Those fears did not carry over to India, however, with the stock market rising by a strong 0.8 percent at 1.15pm. The RBI’s 50 basis point hike in the repo rate last week and its determination to stay in ‘withdrawal of accommodation’ mode is … [Read more...] about Moneycontrol Pro Panorama | Are US and Indian markets decoupling?