Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

Rupee at 80 may be the headline but the star of the story is Dollar as the script and casting for the rout is not homegrown. Simply speaking, it is Dollar which is king and rupee an unfortunate victim of the turn of events -geo political and economic

Explained: Rupee at 80, what got it here and what it means for you 

The dollar continues to gain vs emerging market currencies

<a href="https://www.editorji.com/business-news/markets/rupee-at-80-set-to-hit-historic-low-today-vs-usd-1657852856569" target="_blank">Rupee at 80</a> may be the headline but the star of the story is Dollar as the script and casting for the rout is not homegrown. Simply speaking, it is Dollar which is king and rupee an unfortunate victim of the turn of events - geo political and economic.&nbsp;
<h3>Tracking the tumble</h3>
From an average rate of 73.93/$ in 2021 rupee has tumbled over 27 times to hit new record low in this year itself, tumbling over 6.5%. To paint a true picture it is not the rupee falling but the dollar rising. The dollar has risen to a 20 year high vs a basket of currency adding pressure across the globe. Euro has hit parity vs the dollar, something unseen in 20 years. The Japanese Yen continues to struggle at 24 year low as well.&nbsp;
<h3>Why is the Rupee hit so hard?</h3>
India's large amount of dues in dollars because of large import bill leaves the fifth biggest economy in the world more exposed to pressure as the dollar gains and it has to shell out far more currency to make pay debt. As the world&rsquo;s third largest oil importer, India is vulnerable to rising oil prices and in turn the rising demand for dollars to make those payments.&nbsp;
<h3>Dollar payments pile up</h3>
Its not just the household budgets that have been hit with high prices, it is playing havoc with North Blocks balance sheet as well. India&rsquo;s trade deficit, the gap between imports and exports&nbsp; - widened the most on record in June to $25.63 billion adding more pressure to the rupee as demand for dollars to make those payments rises.&nbsp;
<h3>Don't we have reserves, what is the RBI doing?</h3>
RBI's forex reserves have fallen by $42 billion dollars since Februrary and is now at&nbsp; the lowest in more than 14 months at $588.3 billion as of July 1. The central bank has intervened directly into the forex markets as well via tools such as restricting gold imports, allowing settlement in rupee for external trade. But this is a global rout so intervention and course correction may be a tough ask for Governor Shaktikanta Das.&nbsp; 
<h3>Who to blame - Putin or Powell?</h3>
Oil has what has boiled India's import bill with Russia's invasion of Ukraine creating global fuel shortages. In fact for every $1 increase in the price of oil, India&rsquo;s import bill increases by $2.1 billion. Putin to petrol to payments that has really been the domino effect. Another side effect and a bigger one has been from Jerome Powell, historic hikes from the US Central bank has made dollar denominated investments more attractive, and as globally economies slow risk aversion rises and FIIs start to park money to safer slower investments mostly dollar based.&nbsp;
<h3>What is the endgame?&nbsp;</h3>
With global central banks playing catch up on rates with Powel being the pied piper, traders expect dollar to gain more from here so emerging market currencies such as the rupee are likely to see more pain.&nbsp;

The rupee rout continues as the currency is set to decisively fall below the crucial 80 per US dollar mark in trade. The rupee on Wednesday briefly breached the 80 mark but settle to close at recor low - 4th session in a row at 79.90/$. It is not the rupee that is suffering but rather the US greenback that is gaining. The dollar dominance has been exaggerated by fast rising rates by the US Fed and the global slowdown. The result a general risk aversion and foriegn investors pulling money out of 'hot spot' markets such as India. In just this year FIIs have pulled out over $29 billion dollars from the markets, outstripping the exits during the 2008 financial crisis. But India is not alone in the losers club vs the dollar, Euro now at parity sits at a 20 year low, the Japanese yen has tumbled to its lowest level in 24 years vs the dollar. The bets however expect a little more pain as the Fed is set to tighten rates by a historic 100 bps at its July 26-27 meet pushing the dollar even higher. 

Rupee at 80, set to hit historic low today vs USD 

After 27 record lows from February, the Rupee now at the doorstep of 80/$. 

Rupee set to breach 80 vs USD today

Dollar dominance is pushing currencies from Euro, Yen to Peso to multi-year lows

The rupee rout continues as the currency is set to decisively fall below the crucial 80 per US dollar mark in trade. The rupee on Wednesday briefly breached the 80 mark but settle to close at recor low - 4th session in a row at 79.90/$.&nbsp; It is not the rupee that is suffering but rather the US greenback that is gaining. The dollar dominance has been exaggerated by fast rising rates by the US Fed and the global slowdown. The result a general risk aversion and foriegn investors pulling money out of 'hot spot' markets such as India.&nbsp; In just this year FIIs have pulled out over $29 billion dollars from the markets, outstripping the exits during the 2008 financial crisis. But India is not alone in the losers club vs the dollar, Euro now at parity sits at a 20 year low, the Japanese yen has tumbled to its lowest level in 24 years vs the dollar.&nbsp; The bets however expect a little more pain as the Fed is set to tighten rates by a historic 100 bps at its July 26-27 meet pushing the dollar even higher.&nbsp;

Weak global cues from US markets and the commodity set-up for Wednesday's trade. Here is a wrap of the trade indicators-:&nbsp;US Markets

S&amp;P 500 ends&nbsp;seven-day winning streak, but recovers from intra-day lows.
Dow fell 208.98 points, or 0.6%,&nbsp; S&amp;P 500 ended the day down by 0.2%.
Tech stocks outperform, Amazon hits new record high on Day 1 of Andy Jassy as CEO

&nbsp;
Commodity Cues

U.S. crude oil prices retreated after briefly reaching touching highest level&nbsp;since November 2014
Breakdown in OPEC&nbsp;talk could lead to higher output from some countries
Gold maintained position above $1800, trading above the 100 DMA

Money Market Cues&nbsp;

10-year US Treasury yield fell 7.2 basis points to 1.36%&nbsp;
Yield at lowest level since&nbsp;February
Traders' eye Fed&nbsp;June meeting minutes to be released later today


Global Cues: US markets snap 7 day gains, Oil retreats from 6-year high

Seven day winning street ends for Wall Street, click here for a wrap of equity, commodity &amp; currency cues for Wednesday's trade.&nbsp;

Video saved:&nbsp;Business_Global Cues July 7 (16:9)

Volatile crude prices seen as oil hits highest level since November 2014.&nbsp;

Weak global cues from US markets and the commodity set-up for Wednesday's trade. Here is a wrap of the trade indicators-:&nbsp; US Markets
<ul>
<li>S&amp;P 500 ends&nbsp;seven-day winning streak, but recovers from intra-day lows.</li>
<li>Dow falls 208.98 points, or 0.6%,&nbsp; S&amp;P 500 ended the day down by 0.2%</li>
<li>Tech stocks outperform, Amazon hits new record high on Day 1 of Andy Jassy as CEO</li>
</ul>
Commodity Cues
<ul>
<li>U.S. crude oil prices retreated after briefly reaching touching highest level&nbsp;since November 2014</li>
<li>Breakdown in OPEC&nbsp;talks could lead to higher output from some countries</li>
<li>Gold maintained position above $1800, trading above the 100 DMA</li>
</ul>
Money Market Cues&nbsp;
<ul>
<li>10-year US Treasury yield fell 7.2 basis points to 1.36%&nbsp;</li>
<li>Yield at lowest level since&nbsp;February</li>
<li>Traders eye Fed&nbsp;June meeting minutes to be released later today</li>
</ul>

The dollar's in the wealth kitty is shrinking for the ultra-rich in India and the villain is the falling Rupee against the US dollar.&nbsp;
Credit Suisse&nbsp;reports that that dollar millionaires in India saw their networth&nbsp;falling by a whopping&nbsp;down $594 billion due to a falling rupee resulting in a drop in the dollar value of the their holdings. The&nbsp;cumulative wealth stood at $12.833 trillion for 6.9 lakh&nbsp;dollar millionaires in the country.&nbsp;The number of dollar millionaires in India fell has also&nbsp;from 7,64,000 in 2019 to 6,98,000.Soaring dollar continues to add pressure on the domestic currency that is now trading firmly below the 74/$ mark.&nbsp;
&nbsp;

India's rich see wealth falling $594 billion, one culprit is causing the drop

What caused the Indian super-rich to lose $500 billion from their treasure troves?

The dollars in the wealth kitty is shrinking for the ultra-rich in India and the villain is the falling Rupee against the US dollar.&nbsp;
Credit Suisse&nbsp;reports that that dollar millionaires in India saw their networth&nbsp;falling by a whopping&nbsp;down $594 billion due to a falling rupee resulting in a drop in the dollar value of the their holdings. The&nbsp;cumulative wealth stood at $12.833 trillion for 6.9 lakh&nbsp;dollar millionaires in the country.&nbsp;The number of dollar millionaires in India fell has also&nbsp;from 7,64,000 in 2019 to 6,98,000. Soaring dollar continues to add pressure on the domestic currency that is now trading firmly below the 74/$ mark.&nbsp;
&nbsp;

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp;India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp;India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

India's forex kitty drops in final week of march, FY'21 mop-up highest ever

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp; India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp; India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

<ul>
<li>India's&nbsp;forex reserves drop by&nbsp;$2.9 billion for week ended March 26</li>
<li>FY'21 forex&nbsp;reserve mop-up at $101 bn, highest ever&nbsp;</li>
<li>India's forex reserves third highest in the world after Japan, India</li>
<li>India's import cover at 18 months&nbsp;</li>
</ul>

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp; India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp; India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

Currency in Turkey tumbles towards a record low as the country's President replaced the central bank governor.&nbsp;The Turkish lira plunged as much as 15% against the dollar.&nbsp;Forex traders said there was uncontrollable selling on the Lira as soon as the markets opened for trade. Traders are expecting a big intervention from the govt led banks to support the Lira in the short term.&nbsp;As per a Goldman Sachs report&nbsp;Turkish banks spent more than $100 billion of the nation&rsquo;s foreign reserves to support the currency.&nbsp;
&nbsp;
&nbsp;

Turkish Lira crumbles near record low with change of guard at central bank

Flurry in the forex&nbsp;market as Turkish Lira collapses to near record low as there is a surprise change of guard at the central bank over the weekend.&nbsp;

Currency in Turkey tumbles towards a record low as the country's President replaced the central bank governor.&nbsp;The Turkish lira plunged as much as 15% against the dollar.&nbsp;
Forex traders said there was uncontrollable selling on the Lira as soon as the markets opened for trade. Traders are expecting a big intervention from the govt led banks to support the Lira in the short term.&nbsp;
As per a Goldman Sachs report&nbsp;Turkish banks spent more than $100 billion of the nation&rsquo;s foreign reserves to support the currency.&nbsp;
&nbsp;
&nbsp;

Currency in Turkey tumbles towards a record low as the country's President replaced the central bank governor.&nbsp;The Turkish lira plunged as much as 15% against the dollar.&nbsp; Forex traders said there was uncontrollable selling on the Lira as soon as the markets opened for trade. Traders are expecting a big intervention from the govt led banks to support the Lira in the short term.&nbsp; As per a Goldman Sachs report&nbsp;Turkish banks spent more than $100 billion of the nation&rsquo;s foreign reserves to support the currency.&nbsp;
&nbsp;
&nbsp;

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp;India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

India's forex reserves overtake Russia's kitty 

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp; India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp;
India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp; India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

After rising over 60% in February itself, the Bitcoin&nbsp;rally seems to be taking a breather. The cryptocurrency&nbsp;fell over 16% in trade in New York falling below the $50,000 mark. The digital token took a $8000 beating over just a few hours as analysts questioned the 94% rise in just this year so far.&nbsp;
This comes after Elon&nbsp;Musk tweeted that the cryptocurrency&nbsp;does seem a bit "high". Tesla has invested over $1.5 billion in Bitcoin.&nbsp;
Meanwhile US Treasury Secretary has said that Bitcoin is a highly speculative asset and extremely inefficient way to do transactions

BITCOIN BELOW $50,000

After rising over 60% in February itself, the Bitcoin&nbsp;rally seems to be taking a breather,&nbsp;cryptocurrency&nbsp;fell over 16% in trade

Bitcoin's Big Tumble

After rising over 60% in February itself the Bitcoin&nbsp;rally seems to be taking a breather. The cryptocurrency&nbsp;fell over 16% in trade in New York falling below the $50,000 mark. The digital token took a $8000 beating over just a few hours as analysts questioned the 94% rise in just this year so far.&nbsp;
This comes after Elon&nbsp;Musk tweeted that the cryptocurrency&nbsp;does seem a bit "high". Tesla has invested over $1.5 billion in Bitcoin.&nbsp;

After rising over 60% in February itself, the Bitcoin&nbsp;rally seems to be taking a breather. The cryptocurrency&nbsp;fell over 16% in trade in New York falling below the $50,000 mark. The digital token took a $8000 beating over just a few hours as analysts questioned the 94% rise in just this year so far.&nbsp;
This comes after Elon&nbsp;Musk tweeted that the cryptocurrency&nbsp;does seem a bit "high". Tesla has invested over $1.5 billion in Bitcoin.&nbsp;
Meanwhile US Treasury Secretary has said that Bitcoin is a highly speculative asset and extremely inefficient way to do transactions

forex

Categories