Trump’s threat
The latest statement by US President-elect Donald Trump demanding that Brics nations pledge not to create or support a new currency to challenge the American dollar reflects growing apprehension about dedollarisation.
The latest statement by US President-elect Donald Trump demanding that Brics nations pledge not to create or support a new currency to challenge the American dollar reflects growing apprehension about dedollarisation.
Dollar imperialism is the force that backs Uncle Sam’s role as the world’s policeman, ensuring that the U.S. maintains its influence over global trade, finance, and geopolitics."
The minister said that a stable economy will propel India to become one of the top 3 economies in the world.
The US Dollar Index (DXY) has slipped below $100 for the first time after April 2022. When the Dollar Index falls, the Indian rupee appreciates and the dollar weakens, which is leading to increase in fund flows from FIIs and FPIs, SBI Securities said in a report.
The Indian rupee came down against the US dollar on Monday, crossing the Rs 81 mark vis-a-vis a dollar.
Rupee traded weak as dollar index rallied on the back of US FED tapering bond-buying hints in weeks ahead," said Jateen Trivedi.
Parmar further said that the rupee stayed calmer on Thursday, compared to the prior three days, as participants are cautious ahead of the release.
The rupee logged the third straight session of gain on Monday. In the three trading sessions, the local unit appreciated by 95 paise.
Forex traders said the local unit opened weak against the greenback tracking losses in some of the major Asian currencies and gains in the US dollar.
Foreign investors remained bearish in Indian capital markets as they pulled out more than Rs 5,085.35 crore on Wednesday, market data showed.
