Nah, we are low iq guys.
We won't know the consequence of buying Russian and Iranian oil in Rupees unless you tell us.
India's Forex Reserves Fall As Foreign Investors Head For The Exits
- Thread starter RiazHaq
- Start date
Nah, we are low iq guys.
We won't know the consequence of buying Russian and Iranian oil in Rupees unless you tell us.
MH.Yang
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Read your article clearly.
The Bank of India is ordering all imports from India to use rupees, not instead of using rupees when importing from Russia.
What currency India uses to buy oil from Russia is up to the Bank of Russia, not the Bank of India.
This is clearly de dollarization. You are stabbing America in the back.
Cheepek
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Nope, it gives the OPTION to traders to either do trade in USD OR in INR (Indian Rupee).
So USD will continue to remain for normal trade using swift.
Others who do not wish to do trade in USD can now do the trade in INR. Especially neighbors like Sri Lanka, Nepal, Bhutan, Bangladesh, Iran, Afghanistan and possibly Russia.
MH.Yang
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Take a closer look:
India central bank to allow rupee settlement system for international trade
Individual news pages
www.icis.com
Take a closer look:
India central bank to allow rupee settlement system for international trade
Individual news pages
The heading itself says Indian Central bank ALLOWS rupee settlement system for International Trade.
Which means earlier it was not allowed, now its allowed.
Its NOT COMPULSORY or MANDATORY, its just gives that option to the trader.
It will be impossible to buy gulf oil and gas without USD.
MH.Yang
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You're lying.
Look at the screenshot I sent.
On January 13, 2022, 1CNY was converted to 11.63162 INR.
On July 12, 2022, 1CNY was converted to 11.81934 INR.
CNY is appreciating relative to INR.
In addition, I would also like to remind you that China is the only country in the world that is reducing interest rates, and the world is raising interest rates.
But even if China cuts interest rates, CNY has not depreciated, and China has not yet experienced inflation.
Do you feel unfair and angry?
Of course, you need to use US dollars to import oil from Gulf countries.
The Bank of India has no restrictions on what currency to use when purchasing goods from other countries, and that also cannot be restricted.
The Bank of India restricts the use of rupees when importing goods from India. Read this paragraph clearly:
“Indian importers undertaking imports through this mechanism shall make payment in INR [Indian rupee] which shall be credited into the Special Vostro account of the correspondent bank of the partner country,” it added.
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Cheepek
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Prove what I stated is a lie.
Little half literate lying cockroach jumps from USDINR to CNY/INR in one post.
Do you understand what "Indian importers undertaking imports through this mechanism " means ?
Kingdom come
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#India’s #economy can’t compete with #China’s — & that should worry #US policymakers. #Biden administration must be alarmed by the recent decisions by several foreign corporations to either pull out of the Indian market or put their long-term plans on hold https://thehill.com/opinion/interna...inas-and-that-should-concern-us-policymakers/
BY HUSAIN HAQQANI AND APARNA PANDE
The Biden administration must be alarmed by the recent decisions by several foreign corporations to either pull out of the Indian market or put their long-term plans on hold. The U.S. has, for years, hoped to assist India’s rise as a way of checking China’s growing power. But even though India is the world’s fastest growing major economy, its economic policies continue to disappoint American, European and Japanese officials and investors.
Western democracies, which see India as a natural ally, believe that India would be able to deliver on its economic and military potential only if it attains higher growth rates. That, in turn, would only be possible with larger inflows of foreign investment and further opening of India’s markets. Although India’s economy is expected to grow at 8 percent in 2022 and at 6.9 percent in 2023, it is less than the 12.5 percent and 8.5 percent originally forecast by the International Monetary Fund (IMF).
India’s growth is attributed to its large consumer market rather than to increased foreign direct investment (FDI). Indians seem content that India’s exports are high, its stock market is doing well and India’s vibrant middle class is indulging in what economists call post-pandemic “revenge spending.” But India’s Western partners see India as “a challenging place to do business,” according to the U.S. State Department’s 2021 Investment Climate Statement.
According to Heritage Foundation’s 2022 Index for Economic Freedom, India ranks 27 among 39 countries in the Asia–Pacific region, with an overall score below the regional and world averages.
From the perspective of the U.S. and India’s Western partners, it is a matter of unrealized expectations. India cannot catch up with China without overcoming the large gap in the relative size of their economies. China currently has a nominal GDP of $17.7 trillion while India’s GDP stands at only $3.1 trillion. On the other hand, India is expected to surpass China as the world’s most populous country in 2023, raising its domestic challenges of providing food, education and employment for an expanding young population.
Given its economic gap with China, and the needs of its growing population, it would seem reasonable that India would want to attract FDI. But between 2019 and 2021, the share of global FDI inflows to India have shrunk, from 3.4 percent to 2.8 percent. Meanwhile, China’s share of global FDI rose from 14.5 percent to 20.3 percent.
Even though the U.S., Europe, Australia and Japan all see India as their future partner, their corporations are either pulling out or reducing the size of their operations in India. Swiss building-materials firm Holcim, Royal Bank of Scotland, Harley-Davidson and Citibank have already announced plans to downsize or leave India.
German retailer Metro AG is selling off its Indian operation after two decades. Both Ford Motor Company and Tesla announced they had put on hold plans to make electric vehicles (EVs) in India. This decision, at a time when the Indian government is championing renewable energy, is related to India’s high tariff and tax barriers.
This week, French spirits group Pernod Ricard, maker of Chivas and Absolut, announced a decision to place new Indian investments on hold because of “everlasting” tax disputes with local authorities that date back almost 30 years.
Some $100 million in assets of Amway, the American multi-level marketing company that sells health, beauty and home care products, have been frozen by Indian law enforcement while the company is investigated for ostensibly “operating a pyramid scheme.” Ironically, the company has done business in India for three decades with the same business model of direct selling.
Moreover, Ricard is not the only international business facing taxation challenges in India. IBM has had $865 million stuck in an escrow account since 2009 while a tax dispute over retroactive tax meanders through India’s legal system. India could have used IBM’s nearly $1 billion if put to productive use.
Two U.K.-based companies – Telecom giant Vodafone and energy company Cairn –were hit with large capital gains tax demands based on legal changes after mergers or acquisitions. The Indian government took one decade to rollback its retroactive taxation policy, only after India lost two cases at the World Bank’s International Center for Settlement of Investment Disputes (ICSID) and The Hague tribunal.
The challenges notwithstanding, India’s large size and location continue to make it a prized market for foreign businesses. Air India, the formerly state-run airline now owned by Tata Group, announced plans to overhaul its entire fleet of 300 narrow-body jets in one of the largest orders in commercial aviation history. Boeing and Airbus are the leading contenders for this deal. Access to the large Indian consumer market is a dream, as is the hope for a stake in the upgradation of India’s civilian and military infrastructure.
But, by and large, Western hopes of a modern, fast-growing, prosperous and free market-oriented India have not been realized at the pace predicted by some in the first few years of the 21st century. India’s current rate of economic growth is woefully inadequate for India’s domestic goals as well as the objective of becoming a serious rival to global economic juggernaut, China. The latter makes India’s economic policies a strategic concern for U.S. policymakers.
BY HUSAIN HAQQANI AND APARNA PANDE
The Biden administration must be alarmed by the recent decisions by several foreign corporations to either pull out of the Indian market or put their long-term plans on hold. The U.S. has, for years, hoped to assist India’s rise as a way of checking China’s growing power. But even though India is the world’s fastest growing major economy, its economic policies continue to disappoint American, European and Japanese officials and investors.
Western democracies, which see India as a natural ally, believe that India would be able to deliver on its economic and military potential only if it attains higher growth rates. That, in turn, would only be possible with larger inflows of foreign investment and further opening of India’s markets. Although India’s economy is expected to grow at 8 percent in 2022 and at 6.9 percent in 2023, it is less than the 12.5 percent and 8.5 percent originally forecast by the International Monetary Fund (IMF).
India’s growth is attributed to its large consumer market rather than to increased foreign direct investment (FDI). Indians seem content that India’s exports are high, its stock market is doing well and India’s vibrant middle class is indulging in what economists call post-pandemic “revenge spending.” But India’s Western partners see India as “a challenging place to do business,” according to the U.S. State Department’s 2021 Investment Climate Statement.
According to Heritage Foundation’s 2022 Index for Economic Freedom, India ranks 27 among 39 countries in the Asia–Pacific region, with an overall score below the regional and world averages.
From the perspective of the U.S. and India’s Western partners, it is a matter of unrealized expectations. India cannot catch up with China without overcoming the large gap in the relative size of their economies. China currently has a nominal GDP of $17.7 trillion while India’s GDP stands at only $3.1 trillion. On the other hand, India is expected to surpass China as the world’s most populous country in 2023, raising its domestic challenges of providing food, education and employment for an expanding young population.
Given its economic gap with China, and the needs of its growing population, it would seem reasonable that India would want to attract FDI. But between 2019 and 2021, the share of global FDI inflows to India have shrunk, from 3.4 percent to 2.8 percent. Meanwhile, China’s share of global FDI rose from 14.5 percent to 20.3 percent.
Even though the U.S., Europe, Australia and Japan all see India as their future partner, their corporations are either pulling out or reducing the size of their operations in India. Swiss building-materials firm Holcim, Royal Bank of Scotland, Harley-Davidson and Citibank have already announced plans to downsize or leave India.
German retailer Metro AG is selling off its Indian operation after two decades. Both Ford Motor Company and Tesla announced they had put on hold plans to make electric vehicles (EVs) in India. This decision, at a time when the Indian government is championing renewable energy, is related to India’s high tariff and tax barriers.
This week, French spirits group Pernod Ricard, maker of Chivas and Absolut, announced a decision to place new Indian investments on hold because of “everlasting” tax disputes with local authorities that date back almost 30 years.
Some $100 million in assets of Amway, the American multi-level marketing company that sells health, beauty and home care products, have been frozen by Indian law enforcement while the company is investigated for ostensibly “operating a pyramid scheme.” Ironically, the company has done business in India for three decades with the same business model of direct selling.
Moreover, Ricard is not the only international business facing taxation challenges in India. IBM has had $865 million stuck in an escrow account since 2009 while a tax dispute over retroactive tax meanders through India’s legal system. India could have used IBM’s nearly $1 billion if put to productive use.
Two U.K.-based companies – Telecom giant Vodafone and energy company Cairn –were hit with large capital gains tax demands based on legal changes after mergers or acquisitions. The Indian government took one decade to rollback its retroactive taxation policy, only after India lost two cases at the World Bank’s International Center for Settlement of Investment Disputes (ICSID) and The Hague tribunal.
The challenges notwithstanding, India’s large size and location continue to make it a prized market for foreign businesses. Air India, the formerly state-run airline now owned by Tata Group, announced plans to overhaul its entire fleet of 300 narrow-body jets in one of the largest orders in commercial aviation history. Boeing and Airbus are the leading contenders for this deal. Access to the large Indian consumer market is a dream, as is the hope for a stake in the upgradation of India’s civilian and military infrastructure.
But, by and large, Western hopes of a modern, fast-growing, prosperous and free market-oriented India have not been realized at the pace predicted by some in the first few years of the 21st century. India’s current rate of economic growth is woefully inadequate for India’s domestic goals as well as the objective of becoming a serious rival to global economic juggernaut, China. The latter makes India’s economic policies a strategic concern for U.S. policymakers.
#Indian Bonds Will Suffer Most In #Asia In A #US #Recession Scenario. “Downside risks to EM Asia currencies mean that foreign investor confidence could be sharply declining.” https://www.bloomberg.com/news/arti...-in-asia-in-a-us-recession-scenario#xj4y7vzkg
US recession risks are reverberating across the emerging Asian debt complex and nowhere is this more apparent than in Indian sovereign bonds.
Rupee debt has proven to be the most sensitive to an inversion of the US curve in the past and this time is unlikely to be different, according to a Bloomberg study which analyzed four episodes dating back to 2005. In each instance, India’s benchmark yields climbed an average 11 basis points in the 10 days before longer-term US rates fell below those on shorter-dated maturities.
US recession risks are reverberating across the emerging Asian debt complex and nowhere is this more apparent than in Indian sovereign bonds.
Rupee debt has proven to be the most sensitive to an inversion of the US curve in the past and this time is unlikely to be different, according to a Bloomberg study which analyzed four episodes dating back to 2005. In each instance, India’s benchmark yields climbed an average 11 basis points in the 10 days before longer-term US rates fell below those on shorter-dated maturities.
The threat of a US downturn is the latest risk confronting Indian bonds after a weakening rupee and accelerating inflation propelled benchmark yields to the highest in over two years in June. A slowdown in the world’s biggest economy may exacerbate the pressure from outflows, after global funds sold the notes for five months through June.
There may be little respite for rupee bonds in the near term. Overnight indexed swaps are pricing in another 150 basis points of rate hikes from the Reserve Bank of India over the next 12 months as retail inflation has remained above the central bank’s 2%-6% target for six straight months.
US recession risks are reverberating across the emerging Asian debt complex and nowhere is this more apparent than in Indian sovereign bonds.
Rupee debt has proven to be the most sensitive to an inversion of the US curve in the past and this time is unlikely to be different, according to a Bloomberg study which analyzed four episodes dating back to 2005. In each instance, India’s benchmark yields climbed an average 11 basis points in the 10 days before longer-term US rates fell below those on shorter-dated maturities.
US recession risks are reverberating across the emerging Asian debt complex and nowhere is this more apparent than in Indian sovereign bonds.
Rupee debt has proven to be the most sensitive to an inversion of the US curve in the past and this time is unlikely to be different, according to a Bloomberg study which analyzed four episodes dating back to 2005. In each instance, India’s benchmark yields climbed an average 11 basis points in the 10 days before longer-term US rates fell below those on shorter-dated maturities.
The threat of a US downturn is the latest risk confronting Indian bonds after a weakening rupee and accelerating inflation propelled benchmark yields to the highest in over two years in June. A slowdown in the world’s biggest economy may exacerbate the pressure from outflows, after global funds sold the notes for five months through June.
There may be little respite for rupee bonds in the near term. Overnight indexed swaps are pricing in another 150 basis points of rate hikes from the Reserve Bank of India over the next 12 months as retail inflation has remained above the central bank’s 2%-6% target for six straight months.
SoulSpokesman
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Kyusuibu Honbu
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hahahahahaha
Damnnnn.............the burns from this one set its lungi on fire
Kyusuibu Honbu
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His community among the poorest here in USA
Primarily they are into sales jobs here
Some auto insurance sales fart attempting to squeal about IT industry is like a monkey trying its luck on Quantum mechanics
Most of these dimwits thinks they can type on forum, use smartphone, play games, use google, youtube is equivalent IT development
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