Did RBI Manage The Rupee Exchange Rate To Help Select Oligarchs? - With Rathin Roy | The Core
ฝัง
- เผยแพร่เมื่อ 5 ก.พ. 2025
- #watch | Did RBI Manage The Rupee Exchange Rate To Help Select Oligarchs?
In this episode, author and journalist Puja Mehra speaks to economist Rathin Roy about India's exchange rate policy and its intricate connections with foreign reserves, FDI/FII trends, and the role of the Reserve Bank of India (RBI). Economist Dr. Rathin Roy shares his candid insights on how India's foreign exchange reserves are shaped, the implications of private sector borrowing abroad, and whether the rupee's stability is a result of strategic RBI intervention or unintended consequences of policy oversights. Tune in for a discussion that explores the dynamics of the rupee, the independence of the RBI, and the broader implications of exchange rate management.
ABOUT RATHIN ROY
Rathin Roy was the Director and CEO of the National Institute of Public Finance and Policy (NIPFP) in New Delhi. He has previously worked as an Economic Diplomat and Policy Advisor at the United Nations Development Programme (UNDP), with postings in London, New York, Kathmandu and Brasilia. He has also served as an Economic Adviser with the Thirteenth Finance Commission, New Delhi, in the rank of Joint Secretary to the Government of India. He was part of the Prime Minister's Economic Advisory Council and was a member of the last pay commission that recommended pay hikes for central government employees as well as being a member of the selection panels that chose the two governors of the RBI. His policy interests and research has mainly focused on fiscal and macroeconomic issues pertinent to human development in developing and emerging economies.
Is the RBI secretly shaping the rupee’s future? Don’t miss economist Rathin Roy’s deep dive into India's exchange rate policies. Like, Share & Subscribe for expert insights on India’s economy, FDI, forex reserves & more! Hit the bell icon for updates. Drop your thoughts in the comments!
#rbi #forex #indianeconomy #rupee #fdi #finance #podcast #thecore
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Would love a debate between rathin and Deepak shenoy.. could have been a better interview but some very interesting information for people who are familiar with the topic
Our country should incentivise exports more aggressively and reduce the interest rates to help the manufacturers
Here for Rathin Roy. I am always keen to listen whenever he speaks.
Extremely relevant and important topics. 👍
I was not clear prior to listening to this podcast. After listening, I am lost.
US pays India for the services. India uses that money to import from China. India also imports a lot more; So there is a trade deficit that pushes INR lower.
Oligarchs borrowed capital in USD from US. RBI burnt huge chunk of USD reserves of the country accumulated over decades, so the Oligarchs are kept happy.
Now, RBI is saying (both by media leeks, and price action) that it has given up. If so, USDINR should shoot up 100+ in short order.
Very good conversation
Very well hosted
Why the government is allowing unnecessary imports like furniture etc from china instead of levying import duties or banning such imports.
Productivity of country maintains value of currency. As long as India says 93% is lesser than 39% and does daily human sacrifice of merited, then currency will keep devaluing. In 1947 one rupee was equal to one dollar. Now its nearing 100. Currency of Andher Nagari will one day reach one dollar will be equal to 100000 rupee.
Mountains of money is required as people need to be bribed directly or indirectly by rootless national parties to win elections in much worshipped but unloved by majority huge
India.
Ashwani Mahajan is RSS economist---almost an oxymoron. So, we know what to think of that.
What is the role of IMF in the context of BRICS? Dr Rathin’s views are out of date. The only way forward is for the Rupee to float and find its own value. A strong tariff policy, reducing or eliminating the Income Tax, streamlining the GST, bringing the Mandir economy into the mainline - this will improve domestic consumption and stabilize the rupee.
How can the INR be "overvalued" if the PPP USDINR exchage rate is 22? kuch bhi?
Almost every other major currency has also lost value against the USD. INR is actually the smallest drop. This is a global phenomenon.
Some analysts had already predicted in late 2023- early 2024 that USDINR will reach somewhere in the mid 90s. so this is hardly "news"
There is no rhyme or reason for Fx rates, it is pure manipulation by the West. Bharat will keep going with the charade as long as it suits us.
Then why did RBI throw precious forex reserve on managing the rupee for a year !!!???
@@rohitpadbidri7650 what makes you think that?
1. On Dec 31, Nikkei reported that Indonesia, India had each planned $800 bn Sovereign Wealth Funds. It could be some funds were diverted to that bucket.
2. More & more of India's trade is being done in local currencies i.e. with Russia it is INR-Rubles. USD is not reqd for trade settlement; hence, USD INR Fx rate has declined in relevance.
3. Since 2023, RBI has set up INR denominated Vostro accounts with many trading nations. This facilitates INR settlement - no need for USD, hence not as much reserves are needed.
I expect all this is being done in stealth mode for geopolitical reasons. Don't think the govt to blare it from the rooftops.
@@gargsamyt point 1 is a figment of imagination 2) not anymore , 3) not a new practice.
@rohitpadbidri7650 huh? I didn't number anything. That is truly a figment of your imagination.
Once manufacturing has started picking up now, how rupee will perform in next 1 or 2 years.
Manufacturing mat bolo, assembling bolo
Picking up?
Yeh kab hua?
Dr Rathin, EVERYONE wants to invest in India. They can’t because of poor economic policy from the Indian government.
10’years 30 rs depreciation , the women sitting there is not connected to economy . they have ruined economy .
So you threaten people for shorting a currency?
Our present govt is more focused in defending itself & its seats on a month to month elections than on economy..
Rather the pessimistic Congis are spreading canards
What a bitter man. This would have been such a good podcast if could have kept the bitterness aside. These anglicized types have normalized using Indian practices like havan etc. as slurs.
What is to stop Arvind S. from rationalizing his prejudice of the Narendra Modi govt. as he has been shrill in his crony capitalism charge for some time now. Arvind S. has to give clear proof before throwing such loose charges.
😅❤🎉🎉🎉
This is the new hemendra kothari 😝 Everyone is conspiring everywhere to subvert systems. 😜 Dark times 🤣
I meant hemendra hazari
Completely biased in favour of Congress and anti BJP. I know enough monetary policy to say that this is rubbish.
😂😂😂
This is fake AI generated interview 😂.
Don't worry about criticism.
Not sure what really is the issue ; the expansion in the current account deficit? Or punters or ( Our favourite George Soros) punting the ₹ or Are we allowing our select oligarchs to unwind & paying off their overseas borrowings…. Kuch bhi ho sakthe hai 😆