Don't bet on a rupee devaluation
Steven Philip Warner | August 2016 Issue | The Dollar Business There is no overnight waking up to a shock like the one that London witnessed when UK bowed out of EU. Stock traders on Paternoster Square, bankers on Threadneedle Street, high-end shoppers at the Royal Exchange, pub-hoppers from Wapping to Hampstead and beyond – all of them are still finding it difficult to pause conversations on the tomorrow for London, England and Europe. And for the pound. So what started as a promise-triggered campaign by UK’s erstwhile PM to stay in a flawed Union, ended with Russia smiling quietly, US scratching its head for having lost its closest ally in a critical bloc and much of South Asia – including India ...
Engineering exports likely to fall by 14% in FY16: EEPC
The Dollar Business Bureau India’s engineering exports during April –November period of the current fiscal have declined by 14.4% to $39.85 billion against $46.55 billion during the same period last year Embattled with global slowdown, India’s engineering goods exports are expected to be confined to $60-62 billion during the current fiscal, up to 14.28 % less than $70 billion recorded last year, export promotion body EEPC India has said. Indian exporters have been battling the global slowdown, marked by sharp erosion in commodity prices leaving a negative outlook for the shipments of engineering goods, the EEPC said and the shipments “may be confined to $60-62 billion for the current fiscal despite 7-8% depreciation in rupee against dollar.” The export promotion council ...
