1.𝑵𝒐𝒕 𝒎𝒂𝒊𝒏𝒕𝒂𝒊𝒏𝒊𝒏𝒈 𝒂 𝒅𝒆𝒈𝒓𝒆𝒆 𝒐𝒇 𝒓𝒆𝒔𝒆𝒓𝒗𝒆𝒅 𝒄𝒐𝒎𝒎𝒖𝒏𝒊𝒄𝒂𝒕𝒊𝒐𝒏 𝒕𝒐 𝒓𝒆𝒔𝒕𝒐𝒓𝒆 𝒄𝒓𝒆𝒅𝒊𝒃𝒊𝒍𝒊𝒕𝒚 𝒂𝒏𝒅 𝒄𝒐𝒏𝒇𝒊𝒅𝒆𝒏𝒄𝒆 𝒊𝒏 𝒕𝒉𝒆 𝒔𝒉𝒐𝒓𝒕 𝒕𝒆𝒓𝒎
2. 𝑺𝒆𝒏𝒅𝒊𝒏𝒈 𝒕𝒉𝒆 𝒘𝒓𝒐𝒏𝒈 𝒔𝒊𝒈𝒏𝒂𝒍𝒔 𝒕𝒉𝒂𝒕 𝒕𝒉𝒆 𝒓𝒖𝒑𝒆𝒆 𝒊𝒔 𝒃𝒆𝒊𝒏𝒈 𝒔𝒕𝒂𝒃𝒊𝒍𝒊𝒔𝒆𝒅
3. 𝑪𝒍𝒂𝒊𝒎𝒊𝒏𝒈 𝒕𝒉𝒂𝒕 𝒕𝒉𝒆 𝒐𝒏𝒈𝒐𝒊𝒏𝒈 𝒇𝒐𝒓𝒆𝒙 𝒔𝒉𝒐𝒓𝒕𝒂𝒈𝒆 𝒊𝒔 𝒕𝒉𝒆 𝒓𝒆𝒔𝒖𝒍𝒕 𝒐𝒇 𝒑𝒂𝒔𝒕 𝒄𝒖𝒎𝒖𝒍𝒂𝒕𝒊𝒗𝒆 𝒖𝒏𝒔𝒂𝒕𝒊𝒔𝒇𝒊𝒆𝒅 𝒇𝒐𝒓𝒆𝒙 𝒅𝒆𝒎𝒂𝒏𝒅
4. 𝑼𝒏𝒅𝒆𝒓𝒎𝒊𝒏𝒊𝒏𝒈 𝒄𝒐𝒏𝒇𝒊𝒅𝒆𝒏𝒄𝒆 𝒊𝒏 𝒕𝒉𝒆 𝒇𝒓𝒆𝒆 𝒄𝒐𝒏𝒗𝒆𝒓𝒕𝒊𝒃𝒊𝒍𝒊𝒕𝒚 𝒐𝒇 𝒕𝒉𝒆 𝒓𝒖𝒑𝒆𝒆
5. 𝑭𝒂𝒊𝒍𝒊𝒏𝒈 𝒕𝒐 𝒃𝒐𝒐𝒔𝒕 𝒓𝒆𝒔𝒆𝒓𝒗𝒆𝒔: Excluding gold valuation gains and Govt foreign borrowings, the level of net external reserves remained broadly unchanged.
6. 𝑼𝒏𝒅𝒆𝒓𝒎𝒊𝒏𝒊𝒏𝒈 𝒕𝒉𝒆 𝑩𝒐𝑴’𝒔 𝒂𝒃𝒊𝒍𝒊𝒕𝒚 𝒕𝒐 𝒑𝒖𝒓𝒔𝒖𝒆 𝒂 𝒔𝒕𝒓𝒐𝒏𝒈 𝒂𝒏𝒕𝒊-𝒊𝒏𝒇𝒍𝒂𝒕𝒊𝒐𝒏𝒂𝒓𝒚 𝒑𝒐𝒍𝒊𝒄𝒚 :
7. 𝙉𝙤𝙩 𝙨𝙩𝙧𝙚𝙣𝙜𝙩𝙝𝙚𝙣𝙞𝙣𝙜 𝙢𝙤𝙣𝙚𝙩𝙖𝙧𝙮 𝙨𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮 and
8. 𝑭𝒂𝒊𝒍𝒊𝒏𝒈 𝒕𝒐 𝒅𝒆𝒂𝒍 𝒘𝒊𝒕𝒉 𝒔𝒊𝒈𝒏𝒊𝒇𝒊𝒄𝒂𝒏𝒕 𝒊𝒏𝒕𝒆𝒓𝒏𝒂𝒍 𝒐𝒓 𝒈𝒐𝒗𝒆𝒓𝒏𝒂𝒏𝒄𝒆 𝒕𝒆𝒏𝒔𝒊𝒐𝒏𝒔 .
What about depreciation vis-à-vis the Euro? Inflation is rising, Forex shortage is still chronic.
On profits, we need to know further details .Part of the reason for higher profits could be the higher reliance on open market operations, on bank overnight deposits rather than BoM bills and notes, thereby paying less interest cost. But this is less conducive to monetary stability.....
How much of the increase in profits is 𝗱𝘂𝗲 𝘁𝗼 𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 such as drop in interest rates on US Treasury securities held by BoM, or the rise in stockmarket investments.
He has also failed to lower the risk of downgrading by Moody’s by not cancelling MIC deposits with BoM, thus raising 𝘁𝗵𝗲 𝗿𝗶𝘀𝗸 𝗼𝗳 𝘁𝗵𝗲 𝗰𝗼𝘂𝗻𝘁𝗿𝘆 𝗲𝗻𝗱𝗶𝗻𝗴 𝗶𝗻 𝗷𝘂𝗻𝗸 𝘀𝘁𝗮𝘁𝘂𝘀
He failed to cut MIC loose from BoM, 𝐭𝐨 𝐜𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧 𝐚 𝐟𝐨𝐫𝐞𝐧𝐬𝐢𝐜 𝐚𝐮𝐝𝐢𝐭 𝐚𝐧𝐝 𝐚𝐧 𝐚𝐬𝐬𝐞𝐭 𝐫𝐞𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐝𝐢𝐬𝐩𝐨𝐬𝐚𝐥 𝐩𝐥𝐚𝐧 𝐭𝐨 𝐦𝐢𝐧𝐢𝐦𝐢𝐳𝐞 𝐥𝐨𝐬𝐬𝐞𝐬.
Shivam Anadachee
Tombe bien bas .
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Gianish Horeessran
Governance & MIC Exposure
The MIC’s deposits with BoM remain a red flag. Moody’s has acknowledged resilience but warned of fiscal risks. Without a forensic audit and asset restructuring plan, the MIC could become a liability, raising the risk of a downgrade junk status
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Raj Ramlugun
More important is that acts and doings, perception or not , have undermined the Public TRUST factor in the leadership and of the institution. The rest is too highflown & academic for layperson to grasp or be concerned about . When Integrity, Credibility & Trust have been shaken, it’s time to have self respect and move out. No player, however excellent he’s technically, can be bigger than the team. Dixit Sir Alex towards David Beckham . I really hope no one is trying to buy time to further manipulate us. An touleka pa ar mwa! 
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Bal Appadu
Both inflation and dollar exchange rate are linked. Did the BoM stabilise the dollar/Rupee exchange rate or was this because the dollar has lost value against a basket of currencies As we buy most things in USD when the rupee appreciates against the dollar things become cheaper and inflation goes down! The dollar index has been going down since the advent of Trump’s tariffs. Some scholars say that the cyclical fluctuations in the Dollar Index, commonly referred to as the Dollar Cycle, are intricately linked to economic growth trends in developing nations. According to this hypothesis, a period of appreciation in the dollar, known as a dollar upcycle, tends to correlate with a decline in economic growth in emerging markets. Conversely, a period of depreciation, or a dollar downcycle, is associated with an increase in growth within these economies. The value of the U.S. dollar also correlates with global interest rates, particularly affecting borrowing costs for developing nations. When the USD depreciates, borrowing becomes cheaper and foreign investment increases. Conversely, USD appreciation raises interest rates, making borrowing more expensive and reducing the flow of foreign direct investment to these countries. Because most commodities are traded in U.S. dollars globally, a drop in the dollar's value often results in higher commodity prices in the local currencies of developing countries. This increase in prices can enhance local income and consumption, leading to economic growth. On the other hand, when the USD strengthens, commodity prices generally decline, which can hinder growth in these regions. Consequently, the economic development cycle in developing nations is closely linked to the cycle of commodity prices, which is driven by fluctuations in the USD
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AuthorI have done my bit and I am past my prime now; l am confident our professionals and experienced young Turks will be able to show us the best path forward
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