indianrupee
By Mohammed Kudrati A viral message, exaggerating the extent to which the Indian rupee is being internationalised and being accepted abroad, is false. While the content of the message does draw on recent developments with respect to foreign countries opening a 'vostro' account to trade with India in the Indian rupee, several of its statements are conjecture or untrue. The message attributed several statements to the New York Times to add credence to itself. However, BOOM did not find any article published by NYT stating that 30 countries had accepted the Indian Rupee. Public data available wit...
BOOM Live
This wave of depreciation had real effects on Asian economies because “Anyone outside the US who wants to trade has to put up more collateral in local currency”, explained Paul Hodges of New Normal Consulting. Q2 2022 hedge fund letters, conferences and more Demand in Asia was weak for a variety of reasons, namely, high energy prices (Brent crude oil was still over $100 a barrel in July), geopolitical tensions, inflation, and recession worries. Continuing supply chain challenges were hindering Asian economies, as was the stubborn re-emergence of the coronavirus, which sparked large-scale lockd...
ValueWalk
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