Jan 292015
 
China’s yuan becomes one of the top 5 most-used currencies in the world: SWIFT

China’s yuan has become one of the top five most-used currencies in the world, overtaking the Canadian dollar and the Australian dollar, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), an international financial transactions agency. The yuan ranked fifth, accounting for a record 2.17 percent of global payments in December, up from 1.59 percent in October. The yuan was preceded by the Japanese yen with 2.69 percent, while the U.S. dollar topped the chart with 44.6 percent, followed by the euro and the […]

How RBI and Govt Could Consider to Protect the Rupee

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Jul 102013
 
How RBI and Govt Could Consider to Protect the Rupee

The fall in the rupee to record lows has raised the prospect that the government or the central bank could take steps to support a currency seen particularly vulnerable because of a record high current account deficit. Below are measures the RBI and govt could consider to protect the rupee: Dollar-window for oil companies: The RBI could open a dollar window for oil companies to buy dollars directly from the central bank instead of buying from markets, but it would drain foreign exchange reserves. Dollars […]