For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Federation of Indian Export Organisations president A Sakthivel said the quotations from the Chinese suppliers do not reflect the real value of the dollar, hurting the Indian interests.
Calls by India and Brazil for appreciation of Chinese currency smacks of protectionism borne out of concerns over growing trade imbalances with China rather than the two countries backing US demand for Yuan revaluation, Chinese analysts said.
A yuan stress test conducted by the government in March this year, showed profit margins of labour-intensive textile companies would drop by one percentage points if the it appreciates by one per cent.
China's central bank said late on Saturday it was ready to make the Yuan more flexible.
'The impact of a devaluation will be modest on India's exports'.
The renminbi is expected to weaken another 2 per cent in six months.
Earlier in the day, the White House said that it would be monitoring the progress on the Chinese assurance that it would be making its currency more flexible. It also said that currency, indeed, would be one of the topics of discussions during upcoming G-20 Summit in Toronto.
Holger Rune rallied from a set down and saved a match point to defeat former champion Taylor Fritz 2-6 7-6(2) 6-3 on Wednesday and reach the Indian Wells quarter-finals where he will meet fourth seed Daniil Medvedev.
US President Barack Obama on Friday said that there seems to be a positive signal from China with regard to the flexibility of its currency Yuan, but it is too early to say whether the appreciation that will track the market is sufficient to allow for the rebalancing.
A Chinese research ship on Wednesday docked at Sri Lanka's Colombo port, officials in Colombo said, amid security concerns raised by the US over its visit.
The US will also try to persuade Beijing to make it easier for foreigners to make portfolio investments in China.
The Indian rupee, which has depreciated 1.1 per cent so far in August, is expected to decline further on the back of a strengthening US dollar and a weakening Chinese yuan, according to a Business Standard poll of analysts. The Indian rupee hit an all-time low recently, closing at 83.15 per dollar. Five of the 10 respondents said the Indian currency might touch 83.5 per dollar in August itself, while others said the worst could be over.
US Under Secretary Victoria Nuland, who met Sri Lankan Foreign Minister Ali Sabry in New York on the sidelines of the UN General Assembly session, raised concerns about the upcoming visit of the Chinese research vessel 'SHI YAN 6'
The Indian Navy's P8I maritime patrol aircraft on Thursday located a Chinese fishing vessel that capsized three days ago in the Indian Ocean, officials said.
The domestic currency had last touched 65-level and ended at 65.24 on September 6, 2013. It moved in a range of 64.63 and 65.23 during the day.
Sri Lanka has decided to impose a one-year moratorium in allowing foreign vessels to conduct research in the island nation's territorial waters, Foreign Minister Ali Sabry has said, amidst frequent docking requests from Chinese surveillance ships.
An unexpected devaluation of yuan saw it plunge the most in 20 years.
The People's Bank of China cut its daily reference rate for the currency by a record 1.9 per cent, the biggest loss since January 1994.
The Indian men's table tennis team settled for the bronze medal after going down 0-3 to Chinese Taipei in the Asian Championships semi-final.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
Messi and his national team will play a friendly match against Australia today, June 15, on Chinese Communist tyrant Xi Jinping's 70th birthday.
China last year pegged its defence budget at 1.45 trillion yuan, a 7.1 per cent increase. This year the defence spending is increased to 1.55 trillion yuan.
'Mahatma Gandhi's principle of non-violence was all-encompassing -- human against human, human against animal and more importantly human against nature.'
World number three Elena Rybakina overcame Cristina Bucsa in two hard-fought sets to make the quarter-finals of the Adelaide International on Wednesday, while Jessica Pegula and Jelena Ostapenko had to work even harder to make the last eight.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
Commonwealth Games gold medallist Manika Batra progressed to the women's singles quarter-finals but veterans Sharath Kamal and Gnanasekaran Sathiyan crashed out.
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
China's move to devalue its currency has exposed the fragility of its economy.
It is not clear whether India will go ahead with the plan for the missile test in view of the presence of the Chinese spy ship.
Following is India's schedule at the Asian Games in Hangzhou on Friday, September 29.
A Chinese Navy warship capable of surveillance has docked at the Colombo port, nearly a year after another spy vessel berthed at a strategic port in the country and raised concerns in India.
India's pharmaceutical exports to Iran have been hit owing to depleting rupee reserves in the West Asian country because of India stopping the import of crude oil from it in 2019 following US sanctions. Pharmaceutical exports dropped 71.25 per cent in April-August this year over the same period last year. The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) showed exports to Iran had declined 31.29 per cent in 2022-23 as against the previous financial year.
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
World boxing champion Lovlina Borgohain locked an Olympic quota for herself by advancing to the final in the women's 75kg category at the Asian Games.
Sri Lanka's Hambantota Port authorities said the high-tech Chinese research vessel that was to dock there on Thursday won't reach the port as scheduled, according to a media report, days after India expressed security concerns over its presence in the island nation.
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