It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
While the US is definitely recovering, Europe, Japan and, now, China are all going through another wave of what some fear could be a multi-year slowdown.
It is important to understand that debt investors are a conservative lot and, in general, most such investments are hedged out of foreign exchange risk to simply earn an arbitrage profit, rather than carry the risk to possibly increase their yield.
Volatility ain't going away any time soon. 2013 was the most volatile year for the rupee in at least the last 10, with 2009 not far behind.
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While there are no definitive statistics available, the Tirupati Trust Foundation has well over 1,000 tonnes of gold.
Low volatility, in general, means low risk, which highlights another anomaly -- when any asset gets into uncharted territory, risk, almost by definition, should be high.
During 2013 and 2014, we will see both 65 and 50 to the dollar.
While Greece may well hang on through its next handout or two, it is hard to see how it can survive in the euro.
Global brokers are making a beeline for the Indian market.
Indian equities were one of the first out of the gate, followed in short order by more gold, a wide array of commodities and, finally - by the end of September - the rupee and other animals.
RBI and Sebi should modify the structure of the currency futures market to permit settlement by delivery of dollars ONLY from an EEFC account, says Jamal Mecklai.
New-age genetic research and technology brings new life to an old economy industry, one that is amongst the largest employers in the country.
Budget 2010 went far beyond most recent Budgets in that it defined an entirely new paradigm for the Indian economy.
Budget 2010 went far beyond most recent Budgets in that it defined an entirely new paradigm for the Indian economy.
The continuing efforts of Indian exchanges at user education need to be given a different focus.
RBI kept on adding non-SDR currencies over the next couple of years till they reached about 7.5% of reserves, which is the level they continue to hold.
Risk management is too technical and dynamic a field to lend itself to decision-making by a committee. It needs to be run by professionals with a clear mandate and accountability, says Jamal Mecklai.
You trust people -- or organisations -- that do what they say they are going to do every single time. Sure, individuals and organisations can slip up occasionally. But how you act when you mess up either reinforces or withers away the trust you have built, says Jamal Mecklai.
For the first time, an Indian entity can bet on the external value of the rupee, whether or not it has an underlying foreign exchange exposure. This, in fact, is capital account convertibility, and the RBI is to be congratulated on taking this step, says Jamal Mecklai.
Most think slowing US demand is behind the fall in crude prices but a fall in Chinese demand could trigger a far sharper decline.
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