Dropping Rupee Impacts Imports and Economy The Indian rupee has continued to drop in value against the U.S. dollar. It is currently trading at 70.14 versus the USD, and the depreciation is now at 10.30 percent. As noted in the 29 June 2018 report (click here), the Indian rupee had at that time lost 7.7 percent of its value against the USD since 1 January 2018 and was thought then to have found its bottom. In the past month alone, however, the rupee has depriciated 2.39 percent, making it the most vulnerable and worst performer in Asia.
This is a difficult situation, according to experts, as imports will be expensive. This is especially the case with crude oil, which has touched $70/barrel. India’s vegetable oil imports are a...
What You Need to Know Today: Tensions in the Middle East escalated over the weekend with Iran demanding the U.S. make multiple concessions that are likely non-starters before traffic can flow through the Strait of Hormuz again. Saudi Arabia, Pakistan, and Turkey signed a mutual defense agreeme...
Senator John Boozman (R-Arkansas) has urged farmers to apply pressure on the failed farm bill during the August recess. His intent is to hold another vote on the legislation as soon as possible upon the Senate’s return from a five-week break on 14 September. From a parliamentary perspecti...
