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: Chinese President Xi Jinping arrived at the White House today as part of a highly anticipated three-day visit to the United States, marking his first visit to Washington in eleven years. Trade is expected to feature prominently in discussions with President Trump,...
Officials from the Trump Administration are reportedly considering rolling back the Administration’s beef import plan as there is a growing panic about the midterm elections. The proposal to reduce the 300,000 MT of beef imports – 100,000 MT for September – is being discussed...
Key Takeaways: The United States shifted from a decades-long agricultural trade surplus to a growing deficit, reaching roughly forty-one to forty-four billion dollars in recent fiscal years, a structural change rather than a cyclical dip. Brazil has overtaken the United States as the leading s...
