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SPEECH
Forex
Reserves, Stabilization Funds and Sovereign Wealth Funds:
Indian Perspective
-- Y V Reddy,
© 2007 Speech by Dr. Y V Reddy, Governor, Reserve Bank
of India, at the Golden Jubilee Celebrations of the
Foreign Exchange Dealers' Association of India, Mumbai
on October 8, 2007.
COVER
STORY
Appreciation
of the Indian Rupee : Boon or Bane?
-- Jayalakshmi Srikumar
The current economic scenario has clearly proved
the point that disturbances in the global financial
markets will certainly impact the Indian economy. This
article looks at the factors affecting the appreciation
of the Indian rupee. The impact of the rupee appreciation
on the exporters and importers, sector-wise and company-wise,
has also been examined. The strategies adopted by the
firms in the Textiles and Business Process Outsourcing
industries to hedge against risk of loss from an appreciating
rupee are also examined. It concludes with an advice
to the economy to build on its fundamentals so as to
mark the Indian rupee's presence in the global currency
market.
© 2007 IUP . All Rights Reserved
COVER
STORY
Huge
Forex Inflow : Opportunity or Bane?
-- Ravikanth
Till
September 30, 2007, India was able to attract cumulative
FII of $63.63 bn and $59.54 bn of FDI. This calendar
year alone brought FII investment of $13.21bn and FDI
to the tune of $11.29 bn. This surge in forex inflows
has given rise to many positive developments. Sudden
influx of foreign exchange will make the position uncomfortable
for the government.
© 2007 Merinews (www.merinews.com). All Rights Reserved.
Reprinted with permission
TREASURY
Mortgage
Innovation : An Insight into Reverse Mortgage
-- Mayank Joshipura
Mortgage
products are highly evolved in the US and the UK, while
the innovations in mortgages similar to the ones in
these countries are gaining momentum in the rest of
the world. This article briefs on recent developments/innovations
in the mortgage industry. It narrows down to give a
detailed insight into the highly significant innovation
- Reverse Mortgage, its evolution as well as fast penetration
in India.
© 2007 IUP . All Rights Reserved
RISK
Commodity
Derivatives : The US Perspective
-- Aditya Iyengar
Trading
in derivatives protects the farmers from the risk of
their crop value going below the cost price of their
production. CBOT and CME are two of the largest commodity
derivative exchanges in the world. This article talks
in greater detail about the commodity derivative, its
evolution with some historical evidences.
© 2007 IUP . All Rights Reserved
FOREX
Can
We Decouple from the US?
-- Swaha Shome
A
slowing US economy since the beginning of this year
has raised a debate as to whether the rest of the world
can decouple from the world's largest economy. A housing
market downturn and the subsequent crisis in the subprime
mortgages have depressed the forecasts for US GDP although
most other areas, especially the BRIC economies, GCC
countries and a large part of emerging Asia are anticipating
robust growth. Under the circumstances, the article
attempts to explore the possibility of decoupling in
a situation of a short-term US slowdown as well as a
more dismal situation of full blown recession.
© 2007 IUP . All Rights Reserved
FOREX
WTO
and Farming : Opportunities in Foreign Trade
-- Vijay Kumar Mishra
The
last century witnessed two important changes in the
Indian economy. They were the new economic policy of
1991 and the subsequent decision of India to join the
WTO in 1995. Internally, the new economic policy has
affected the growth potentiality of all the sectors
and the sub-sectors and externally WTO and its agreements
are trying to create an environment of free and fair
trade in a multilateral trading system. This will help
in the growth of foreign trade and will benefit the
growth of the economy. Indian economy in the last decade
of the last century has been designed to operate in
a liberalized and globalized environment. The WTO added
on to the impacts of liberalization and globalization
of the economy. The Indian farm sector, besides other
sectors of the economy can also benefit from the opportunities
of the foreign trade in the post-WTO era but the bottlenecks
are restricting its optimization. This article briefly
tries to understand the opportunities of foreign trade
in farm products and the bottlenecks in its path.
© 2007 IUP . All Rights Reserved
BOOK
REVIEW
The
New Financial Order : Risk in the 21st Century
-- Author: Robert J Schiller Reviewed by K V Saraswathi
Today
the society can achieve a greater democratization of
finance and stabilization for our economic lives through
radical financial innovation. The author of the book
presents ideas for a new financial order, a new financial
capitalism, and a new economic infrastructure, and further
describes how such ideas can realistically be developed
and implemented.
© 2007 IUP . All Rights Reserved
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