look news india
New Delhi: The Reserve Bank of India expressed full confidence in its policies to counter the impact of global shocks. In fact, the fear of trade war has increased in Donald Trump’s second term.
Reserve Bank Governor Shaktikanta Dasdas described protectionism and customs duties as the biggest challenges. He said, however, that India is fully prepared to face any adverse impact from external sources.
In fact, ever since Trump won the presidential election, foreign investors have been pulling out money from the Indian debt and equity markets. This put the Indian currency under pressure and the rupee reached an all-time low of 84.50 per dollar last week. To counter this, the Reserve Bank has foreign exchange reserves of $ 658 billion (November 15). The fall of the rupee was also curbed due to the intervention of the Reserve Bank.
Trump has announced tariffs on China, Mexico and Canada in his plan. So far, India has been left out of Trump’s plan to impose tariffs. Trump said he could sign an order imposing a 25 percent tariff on all imports from Mexico and Canada. Apart from this, 10 percent additional duty will also be imposed on Chinese products.
Das will chair the monetary policy meeting for the last time on December 4-6. He refrained from saying anything on future interest rates.