The exchange rates of the US dollar, UK pound, Saudi riyal, UAE’s Dirham, Australian dollar, and other currencies to Indian rupees depend on demand and supply.
Following are the exchange rates as on May 1, 2023.
Foreign currencies
INR values (Change)
US Dollar
81.75
UK Pound
102.64
Dirham
22.26
Australia
54.10
Saudi Arabia
21.79
Factors that affect exchange rates
Following are some of the factors that affect exchange rates.
Inflation Interest rates Flow of capital Liquidity Current Account Deficits
Inflation: It is an important factor in the exchange rate calculation. As higher the inflation, the lower the currency value, rupee depreciates with the rise in inflation. Rupee appreciates in case of a fall in inflation.
Interest rate: As global investors who look for fixed income will always get attracted to countries that offer higher interest rates, which contributes to the appreciation/depreciation of the Indian rupee.
Flow of capital: As the inflow of capital will result in a rise in demand for the rupee value, it appreciates the rupee. The opposite happens when there is a rise in the outflow of capital.
Liquidity: It is the money supply in the market. With the rise in the money supply, the rupee loses its value and it results in the depreciation of the currency. If the money supply in the market decreases, the rupee appreciates.
Current Account Deficits: It represents that a country is importing goods valued more that the goods it is exporting. This imbalance results in a fall in the value of the currency.
CAD depreciates the currency whereas, Current Account Surplus appreciates the currency.
The exchange rates of the US dollar, UK pound, Saudi riyal, UAE’s Dirham, Australian dollar, and other currencies to Indian rupees depend on demand and supply.
Following are the exchange rates as on April 27, 2023.
Foreign currencies
INR values (Change)
US Dollar
81.75
UK Pound
101.91
Dirham
22.26
Saudi Riyal
21.80
Australia Dollar
54.09
Factors that affect exchange rates
Following are some of the factors that affect exchange rates.
Inflation Interest rates Flow of capital Liquidity Current Account Deficits
Inflation: It is an important factor in the exchange rate calculation. As higher the inflation, the lower the currency value, rupee depreciates with the rise in inflation. Rupee appreciates in case of a fall in inflation.
Interest rate: As global investors who look for fixed income will always get attracted to countries that offer higher interest rates, which contributes to the appreciation/depreciation of the Indian rupee.
Flow of capital: As the inflow of capital will result in a rise in demand for the rupee value, it appreciates the rupee. The opposite happens when there is a rise in the outflow of capital.
Liquidity: It is the money supply in the market. With the rise in the money supply, the rupee loses its value and it results in the depreciation of the currency. If the money supply in the market decreases, the rupee appreciates.
Current Account Deficits: It represents that a country is importing goods valued more that the goods it is exporting. This imbalance results in a fall in the value of the currency.
CAD depreciates the currency whereas, Current Account Surplus appreciates the currency.
The exchange rates of the US dollar, UK pound, Saudi riyal, UAE’s Dirham, Australian dollar, and other currencies to Indian rupees depend on demand and supply.
Following are the exchange rates as on April 26, 2023.
Foreign currencies
INR values (Change)
US Dollar
81.77
UK pound
101.95
Dirham
22.27
Australia Dollar
54.04
Saudi Riyal
21.80
Factors that affect exchange rates
Following are some of the factors that affect exchange rates.
Inflation Interest rates Flow of capital Liquidity Current Account Deficits
Inflation: It is an important factor in the exchange rate calculation. As higher the inflation, the lower the currency value, rupee depreciates with the rise in inflation. Rupee appreciates in case of a fall in inflation.
Interest rate: As global investors who look for fixed income will always get attracted to countries that offer higher interest rates, which contributes to the appreciation/depreciation of the Indian rupee.
Flow of capital: As the inflow of capital will result in a rise in demand for the rupee value, it appreciates the rupee. The opposite happens when there is a rise in the outflow of capital.
Liquidity: It is the money supply in the market. With the rise in the money supply, the rupee loses its value and it results in the depreciation of the currency. If the money supply in the market decreases, the rupee appreciates.
Current Account Deficits: It represents that a country is importing goods valued more that the goods it is exporting. This imbalance results in a fall in the value of the currency.
CAD depreciates the currency whereas, Current Account Surplus appreciates the currency.
The exchange rates of the US dollar, UK pound, Saudi riyal, UAE’s Dirham, Australian dollar, and other currencies to Indian rupees depend on demand and supply.
Following are the exchange rates as on April 25, 2023.
Foreign currencies
INR values (Change)
US Dollar
82.02
UK pound
101.73
Dirham
22.34
Australia Dollar
54.35
Saudi Riyal
21.87
Factors that affect exchange rates
Following are some of the factors that affect exchange rates.
Inflation Interest rates Flow of capital Liquidity Current Account Deficits
Inflation: It is an important factor in the exchange rate calculation. As higher the inflation, the lower the currency value, rupee depreciates with the rise in inflation. Rupee appreciates in case of a fall in inflation.
Interest rate: As global investors who look for fixed income will always get attracted to countries that offer higher interest rates, which contributes to the appreciation/depreciation of the Indian rupee.
Flow of capital: As the inflow of capital will result in a rise in demand for the rupee value, it appreciates the rupee. The opposite happens when there is a rise in the outflow of capital.
Liquidity: It is the money supply in the market. With the rise in the money supply, the rupee loses its value and it results in the depreciation of the currency. If the money supply in the market decreases, the rupee appreciates.
Current Account Deficits: It represents that a country is importing goods valued more that the goods it is exporting. This imbalance results in a fall in the value of the currency.
CAD depreciates the currency whereas, Current Account Surplus appreciates the currency.
New Delhi: Chief Justice of India D.Y. Chandrachud on Friday said that the Centre should adopt mediation in a big way instead of taking recourse to litigation for resolving disputes.
Mediation is a process that involves resolving disagreements, bringing together various stakeholders, and finding a common ground, he said at a national seminar on ‘Mediation: At The Dawn of a Golden age’ held at the Delhi High Court.
The event was organised by the Delhi High Court Mediation and Conciliation Centre, Samadhan under the aegis of the National Legal Services Authority and the Mediation and Conciliation Project Committee.
The CJI stressed said that when the government, which is the largest litigator in the country, mediates, it sends a message that in the framework of law, the government is not an adversarial opponent to the citizens.
“The government must adopt the robes of a friend, a partner and a problem solver,” the CJI said.
“The framers of the our Constitution recognised the need to create a document should reflect the will and aspirations of our people. They had to create a framework to resolve many disagreements,” he highlighted.
He said that in today’s fraught times, mediation has an important message for us as citizens. “Are we losing our ability to talk to each other across the spectrum? Are we losing our ability to engage in reasoned dialogue?” he asked, pointing out how mediation helps in listening to others’ viewpoint.
“Is it not necessary therefore that we should pick up something from mediation which is, importantly, being good listeners, understanding the other’s point of view and not only insisting that the dogma we espouse is the only dogma which is relevant to the times,” he said.
Kruse: Former Trump campaign adviser Sam Nunberg told you there are only two people in the whole world whose calls Trump would take alone — Mark Burnett and Vince McMahon. And you say McMahon is likely the closest thing to a friend that Donald Trump has. Beyond the reality that Trump is a preternaturally lonely man, why do you say that?
Riesman: I talked to a lot of Republican operatives. Trump and Vince are extremely close. I think he likes to talk to Vince. I think Vince and he understand each other. I think he greatly admires and looks up to Vince. And that you can just find from his tweets — that’s something that’s very much on the record — it is a consistent picture of, you know, this is a great man, Trump referring to Vince, this is somebody who has a good philosophy, this is somebody who knows how to thrill an audience. And for better or worse, we’re shaped by our role models.
Kruse: For our readers who certainly know politics but might not know pro wrestling, what is kayfabe, rhymes with hey, babe, and what is neokayfabe? And what specifically is neokayfabe in the context of politics today?
Riesman: Kayfabe is this old multipurpose term that emerges from traveling circuses, which is where wrestling emerges from. It is all centered around the big lie of wrestling, of pro wrestling, theatrical wrestling, for the first century of its existence. And that big lie was that what you see in the ring is what you get — that it’s real, that this is a legitimate sporting competition. Everybody had to be in character. You really had to commit to it anytime you were out in public. What happens in the mid- to late ’80s is Vince takes power at his father’s company, buys it from his father, and he starts making this product that is a lot more outlandishly ridiculous in some ways than any wrestling that had come before — stuff that was just so obviously entertainment and not a sport that he started calling his product sports entertainment.
And kayfabe is basically over at that point, and wrestling sort of flounders for a number of years. It’s very difficult for the promoters in that period to get people interested because old kayfabe is gone. The suspension of disbelief isn’t there anymore. So what ends up happening, and it’s not just Vince that does it, but it’s Vince who really codifies it, is you get this phenomenon that I, perhaps vainly, have named neokayfabe. You are operating not with the assumption that what you’re seeing is real; in fact, you are operating with the very firm belief that what you were seeing is fake. But in that fakeness, a promoter or a wrestler will toss in little bits of seemingly behind-the-scenes truth, what appears to be behind-the-scenes truth, in the context of this wider lie. And that I think should hopefully sound familiar to all of us who pay attention to politics these days.
Think about Trump. He would say stuff you’re not supposed to say, and that was what everyone who loved him said about him. I mean, Frank Rich wrote a story for the magazine that I was working at about how Trump was saving our democracy — this was in 2015 — saying that he was saying what other people weren’t willing to say about how stupid this system was and maybe that would wake people up. Well, I don’t know that it woke people up to make them change the world for the better, but it certainly grabbed their attention. And that’s all that matters. That’s all that matters now. Can you grab people’s attention? And Vince figured out a while ago that a great way to grab people’s attention is just have people say the unsayable and do the unthinkable and toss out things that are true. I think the parallel is kind of obvious, and I hope that this is a moment where we can sort of wake up to the fact that the strategy of just fact-checking the other side doesn’t work. Because that’s not what fascism believes. It doesn’t believe in consistency. It doesn’t believe in all the truth or all the lie. It believes in total chaos. And that’s what we have under neokayfabe.
Kruse: The well-meaning fact checkers did not imbibe the lessons of professional wrestling in the ’80s and ’90s.
Riesman: They didn’t.
Kruse: You make the point in a number of places and in a number of ways that this is not just a Trump thing. That it is the generations of the children of the ’80s and ’90s. And that it is a both-sides-of-the-aisle phenomenon.
Riesman: Wrestling was a widespread phenomenon for millennials when we were in our impressionable teen years. I do think you have an easier time translating the ideology of neokayfabe into politics if you’re operating within a party that is really resolutely anti-truth — the Republicans now. That said, I do think the phenomenon of neokayfabe, such as it is, has infected both parties. The parties aren’t the same. I would never say that. I’m saying both parties have interests and have advantages when it comes to saying one thing, meaning another and then saying yet a third thing and meaning a fourth thing. These layers of confusion are advantageous for politicians.
Kruse: And one of the more interesting arguments in this book is the idea that the generation that grew up with wrestling is now running stuff or about to run stuff and that matters a lot. How are Republicans and Democrats both doing politics differently now because they watched Hulk Hogan in the ’80s and ’90s?
Riesman: We learned that the most important thing is entertaining people — basically the most important thing is pushing people’s buttons. And also learning that you can be a heel and be successful — you can be somebody who is hated and you can profit off that hatred.
Kruse: Attention above all else, button-pushing over policy-making …
Riesman: And success in being hated. That’s such a key part of the Trump phenomenon. People think that by hating him and tweeting about how bad he is they’re somehow stabbing against him. But that’s the same way that people thought they were making a point of taking down Vince McMahon by buying T-shirts that say “Stone Cold” because “Stone Cold” Steve Austin was Vince’s rival in a storyline. But Vince McMahon owns it. He makes all the money off the T-shirt. That’s what happens with Trump. And not just Trump. George Santos. Any number of politicians. It’s how you succeed now.
Kruse: It pays to be the heel just as much or maybe even more than it pays to be “the face.”
Riesman: Oh, I would say much more. Being the face doesn’t pay because you’re always going to have another side that reflexively hates you. You’re not going to win over the other side. Whereas if you’re a heel, you have one side loving you, and the other side you’re profiting off their hatred. It’s the only way to actually make it now.
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( With inputs from : www.politico.com )
Second, he knew what it took to deal with a banking crisis, and, specifically, how to restore public confidence in the banking system. At the worst moment of the Great Depression, he faced a much more daunting challenge than the problems of the present — and he succeeded in turning things around almost immediately. In contrast, policymakers and regulators today dither, hoping that empty words and weak measures can restore confidence. The FDR mirror is very revealing of the inadequacies of the current policy response.
Many people are surprised when I tell them that FDR explicitly opposed federal deposit insurance during the 1932 presidential campaign. In the heart of the banking upheaval, with many bank failures producing depositor losses in 1931-1932, his 1932 letter to the New York Sun stated that federal deposit insurance “would lead to laxity in bank management and carelessness on the part of both banker and depositor. I believe that it would be an impossible drain on the Federal Treasury.”
FDR here makes an important, and empirically correct, point: Good bank risk management depends on depositors’ discipline, which depends on their having skin in the game.
Later, Roosevelt reluctantly agreed to create FDIC insurance, at the insistence of Rep. Henry Steagall, as part of a larger political deal, but he kept the agency’s coverage limited to small deposit balances. Furthermore, he had closed all banks in March 1933, and they were permitted to reopen and have access to insurance coverage only after they had undergone a thorough examination to establish that they were in sound financial condition.
FDR did not handle the banking panic by throwing deposit insurance at the problem, or by waiting for more banks to be shut down by worried depositors. He first put an end to runs by closing banks and established a credible process for them to reopen upon demonstrating their strength. Because regulators’ examinations were demonstrably credible to independent observers, and often accompanied by increased capital, confidence in the system was restored and many banks were able to reopen quickly. Runs did not return — not because of the small coverage of the new deposit insurance system, but because FDR had actually addressed the problem of bank weakness that was driving the runs.
What would a similarly effective policy response for the current crisis look like? The problem today is much less severe, making the solution easier.
There are only about 200 U.S. banks that are clearly vulnerable because of securities losses similar to those of Silicon Valley Bank. Regulators should have met with those banks individually last weekend, required them either to immediately come up with credible recapitalization commitments, or put them into conservatorship (beginning Monday morning). In conservatorship, they would have had limits placed on their activities until it was determined whether they could offer adequate recapitalization, or, if not, be placed in receivership. In the meantime, they could have been allowed to pay out all insured deposits, but only to pay out a fraction of uninsured deposits (based on the potential losses of uninsured depositors at each bank). This would have put pressure on those banks to resolve the problem quickly, and would have limited the illiquidity problem to a portion of the uninsured deposits at a small number of banks.
If that had been done, industry and academic experts would have been able to immediately reassure relatively uninformed depositors that the government policy response had been effective and that there was no cause for further alarm. I believe some uninsured depositors would still have wanted to move their funds, as a long-term precaution, but the short-term urgency of these disruptions would have been substantially reduced.
Instead, the Biden administration has done nothing about the 200 vulnerable banks, thereby encouraging continuing panic. The two measures they did undertake last Sunday have clearly failed to calm the market. First, the bailout of uninsured depositors at Signature and SVB has no clear implication for the risk of loss to uninsured depositors at other banks, especially given how much criticism those bailouts have received for being politically motivated and unfair. No uninsured depositor worried about their own potential losses will think that their money is necessarily safe now.
The second policy announcement was also ineffectual. The Federal Reserve created a new special lending facility for banks, allowing them to borrow for up to one year against qualifying Treasury and Agency securities. Banks can borrow an amount equal to the face value of those securities, which exceeds their market value. This implies a partially noncollateralized loan (the opposite of the typical “haircut” applied to collateral in central bank lending).
These loans provide no reason for worried uninsured depositors to rest easy. The decline in the value of securities at vulnerable banks is not temporary but is fundamentally the result of the Fed’s interest rate hikes, which are not only going to persist but will be increased going forward. Securities used as collateral are not going to increase in value as the result of the Fed stepping in here. Second, the loan is only for a year, so after the end of that year, a bank that is insolvent today because its securities have fallen in value will still be insolvent. For these reasons, the Fed lending program will not cause uninsured depositors at an insolvent or deeply weakened bank to decide not to withdraw their funds immediately, if they were already predisposed to do so.
It is time to take FDR’s example to heart, address the banking problem immediately and directly, and give U.S. depositors a real reason to believe that “there is nothing to fear but fear itself.”
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( With inputs from : www.politico.com )
Big news has come for gold customers because in 2023 it became cheaper by Rs 2700 from all time high, due to which gold customers have gathered in shops to buy gold.
Important news for gold and silver buyers. After rising for four consecutive days, the price of gold and silver has once again registered a rise. In this business week, on Friday, gold became expensive at the rate of Rs 590 per 10 grams, while the price of silver was recorded at the rate of Rs 1239 per kg. After this, gold has started selling above Rs 56000 per 10 grams and silver above Rs 64000 per kg.
On Friday, gold (Gold Price Update) became costlier by Rs 590 per 10 grams and closed at Rs 56140 per kg. Earlier on Thursday, gold (Gold Price Update) became cheaper by Rs 116 per 10 grams and closed at Rs 55550 per kg. On the other hand, gold (Gold Price Today) became cheaper by Rs 291 per 10 grams and closed at Rs 55666 per kg on Wednesday.
A jump was also registered in the price of silver (Gold Price Update) on Friday. On Wednesday, silver gained Rs 1239 to close at Rs 64246 per kg. Whereas on Tuesday, silver closed at Rs 63007 per kg with a softening of Rs 439. On the other hand, on Monday, silver closed at Rs 63446 per kg with a softening of Rs 885.
Latest 14 to 24 carat gold rate
After this rise, 24 carat gold became costlier by Rs 590 to Rs 56140, 23 carat gold by Rs 587 to Rs 55915, 22 carat gold by Rs 540 to Rs 51424, 18 carat gold by Rs 442 to Rs 42105 and 14 carat gold by Rs 442. Gold being costlier by Rs 345 is trading at Rs 32842 per 10 grams.
Gold is getting cheaper by Rs 2700 and silver by Rs 15700 from all-time high
After this fall, gold is selling cheaper by Rs 2742 per 10 grams than its all-time high. Let us tell you that before this, gold had made its all-time high on 2 February 2022. On that day gold had gone up to the level of Rs 58882 per ten grams. At the same time, silver was still getting cheaper than its highest level at the rate of Rs 15734 per kg. The all-time high level of silver is Rs 79980 per kg.
Know the latest gold price by giving a missed call
To know the retail rate of 22 carat and 18 carat gold jewellery, you can give a missed call on 8955664433. Rates will be received through SMS in a short while. Along with this, you can visit www.ibja.co or ibjarates.com for continuous updates.
Know the purity of gold like this
If you want to check the purity of gold now, then an app has been made by the government for this. With the BIS Care app, customers can check the purity of gold. Through this app, you can not only check the purity of gold, but can also make any complaint related to it.
24 carat gold is the purest
Let us tell you that 24 carat gold is considered the purest, but jewelry cannot be made from this gold because it is very soft. That’s why mostly 22 carat gold is used in making jewelry or jewellery. 24 carat gold is 99.9 percent pure and 22 carat is about 91 percent pure.
Jewelery is made by mixing 9% other metals like copper, silver, zinc in 22 carat gold, while 24 carat gold is brilliant, but its jewelery cannot be made. That’s why most shopkeepers sell gold in 22 carat.
Reliance Industries Limited (RIL) chairman Mukesh Ambani today emerged as a top winner on the world’s billionaire list whereas, Adani Group Founder Gautam Adani’s net worth continues to dip.
Ambani who recently regain the tag of India’s richest person continues to climb up on World’s billionaire list. With a net worth of USD 86 billion, he is at eight position on the rich list.
Today, USD 2.2 billion is added to his net worth. His ranking improved from ninth to eight as Reliance Industries Limited (RIL) is trading in green today.
Mukesh Ambani continues to climb up on World’s billionaire list
Mukesh Ambani who recently entered the top 10 billionaire list and bagged India’s richest person title continues to climb up on the rich list.
Though Ambani is out of the 100-billion club, he continues to hold the title of Asia’s richest person.
Currently, he is richer than famous billionaires Mark Zuckerberg, Sergey Brin, Francoise Bettencourt Meyers, Larry Page and Steve Ballmer.
Adani’s net worth takes another dip
Adani companies’ stocks which were bleeding ever since the release of the Hindenburg report improved today.
However, it failed to lift the net worth of Adani. He lost USD 986 million today and emerged as today’s top loser.
As of 12 noon, most of the Adani stocks were trading in green. NDTV and Adani Power are locked in the upper circuits whereas, Adani Total Gas Limited is locked in the lower circuit.
While, Adani Enterprises, Adani Green, Adani Ports, and Ambuja Cement were trading in the green, ACC and Adani Transmission were in the red.
