Analysis of Indian Rupee against US Dollar - 825 Words

Analysis of Indian Rupee against US Dollar (Essay Sample) Content: Name: Tutor: Date: Course: Analysis of Indian Rupee against US Dollar There has been a great deterioration of the Indian Rupee from 2006 to 2010. The sharp depreciation of the Indian currency has led to difficulties in the transition if Indian domestic economy that has been accompanied by a period of high inflation, low growth as well as the widening of the account deficit (Araf 128). During the period, the currency plummeted to an all-time low close to 70 dollar mark. The rupee remained down nearly 50% in the period of five years ending with 2010. That slide in the rupee has got a direct link to global factors and particularly due to the strengthening of the US dollar as well as the signal from the US that it is likely to start down spending which is a stimulus. However, the low rate of local economic growth over the five years together with weak investment cycle has contributed to the poor performance of the Indian currency. Over that period of five years, the Indian Foreign Exchange Market ended up undergoing great changes. The changes in the Foreign Exchange Market are paramount in the substantial volatility of the Indian Rupee that caused the depreciation of the currency against major currencies that have been dominating in the international market. Several macroeconomic variables have thus led to the acute variations in the exchange rate of Indian currency against the US dollar (Kar and Sarkar 52). The forceful and significant deterioration in the Indian Rupee's exchange rate has resulted in some sectors being badly affected. Heavy import companies that have got little relative exposure on export have been victims of Rupee turmoil. The companies that have been at the top of the list of the highly affected include Petroleum companies, IT giants, and the automotive manufacturers. A continued spell of the Rupee's weakness has the likelihood of widening the account deficit in India that has been among the greatest concerns for the country over the period of five years. The increased depreciation of the Indian currency during the period resulted in uncertainty in the business environment. Moreover, volatility in the pair of USD/INR comes along with additional risk for corporate that has got substantial exposure to the expenses and incomes of foreign exchange (Sharma and Setia 321). An Exchange-Traded Funds (ETFs) is a fund investment holding assets among which is commodities, stocks or even bonds and is traded on the stock exchanges. ETFs are in most of the cases attractive investments due to their reduced costs a together with the efficiency of tax. They are among the most popular types of exchange-traded product. ETFs have continuously gained favor in the financial markets globally (Kar and Sarkar 69). For instance, Foreign Institutional Investors (FIIs) to be specific have been using ETFs for the purpose of gaining exposure in the emerging markets. In India, the presence of ETFs has continued to be felt. Among the disinvestment modes that Indian government has proposed for public sector undertakings (PSUs). As can be noted, several India-specific ETFs that have been in existence in US that includes iShares MSCI India ETF, PowerShares India Portfolio and WisdomTree India Earnings Funds has been concentration on Indian stocks exclusively. The offshore equity funds' assets and the India-focused ETFs were USD 55.84 billion in 2010. ETFs come along with some advantages as compared to the traditional mutual funds. For instance, they have reduced expense ratio, transparency, tax efficiency, flexibility in trading not to forget the exposure to diverse classes of assets (Karuthedath and Shanmugasundaram 78). The expense ratios of the mutual fund are higher than those of ETFs a result of entry and the exit loads. It is worth noting that In India, the country has banned mutual funds entry loads and the exit funds are non-existence. Thus, EFTs can be traded just like stocks all the day long while accessing of the open-ended mutual funds is only possible at the end of the day. For the period of five years ending with 2010, India has had an interesting experience with the movement of its currency against US dollar. India has been the only nation that has remained isolated from globalization's tidal wa...

Evaluate the Effectiveness of Australian Government...

Evaluate the effectiveness of Australian Government economic policies in achieving their objectives. The government implements an economic policy mix involving macroeconomic and microeconomic policy in order to achieve their objectives. The three main objectives include: †¢ Internal stability – low inflation (price stability) and full employment †¢ External stability – stable exchange rate, a sustainable level of foreign debt and the current account deficit (CAD) ï  ©Ã¯  §Ã¯  ¨ †¢ Economic growth Other government objectives include equal distribution of income and environmental management. Though, it is evident that not all of these objectives can be achieved simultaneously as some are conflicting. Thus the government must trade-off some of†¦show more content†¦Another form of macroeconomic policy is fiscal policy, which involves the use of the Commonwealth Government’s budget in order to achieve the Government economic objectives. By varying the amount of government spending and revenue, the government can effectively alter the level of economic activity, which in turn will influence economic growth, inflation, unemployment and the external indicators of the economy. The fiscal instrument is the budget, an annual statement from the government dealing with its income and expenditure plan for the next financial year. Fiscal Policy is an effective tool which can target specific sectors of the economy such as individual industries, unlike monetary policy which affects the economy as a whole; this is why the government implements a policy mix. An indication of the overall impact of fiscal policy (FP) on the state of the economy is the fiscal outcome. The three possible outcomes include a fiscal surplus (positive balance where government expenditure exceeds revenue), fiscal deficit (a negative balance where government revenue exceeds expenditure), and fiscal balance (a zero balance where total government revenue equals expenditure). The main aim of fiscal policy is to achieve fiscal balance, on average, over the course of the economic cycle. The Howard Government targeted a fiscal surplus of 1% of GDP, whereas the current Rudd Government has raised this target to 1.5% of GDP,Show MoreRelatedThe Concept of Equity of Access in the Australian Healthcare System2439 Words   |  10 PagesThe Australian health care system is founded on the concept of equity of Access. Discuss this Statement with relation to the concepts of Effectiveness and efficiency and any interrelation that may exist. 1. 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The extraRead MoreLegal Studies8128 Words   |  33 Pagescriminal law †¢ the extent to which law reflects moral and ethical standards †¢ the role of law reform in the criminal justice system †¢ the extent to which the law balances the rights of victims, offenders and society †¢ the effectiveness of legal and non-legal measures in achieving justice. Students learn about: 1.1.0 The nature of crime 1.1.1 the meaning of crime First of (any act or omission of duty resulting in harm to society that is punishable by the state. it seems quite clear but there isRead MoreResults Based Monitoring And Evaluation2044 Words   |  9 Pagesextensive management reforms in responding social, political and economic pressures that were triggered by the factors of globalisation, budget deficits, structural adjustments and competitiveness (Binnendijk, 2000). 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The Secret Messages Of Advertising - 1003 Words

Secret messages in advertising In today’s society, we see many persuasive languages, pictures, and videos being used in advertisements in order to grasp its consumers to buy their products. Advertisements can be seen throughout history, dating back as far when Egyptians once ruled. They used many of the techniques of ad appeals used today. Advertisements can be seen in our everyday lives, even though we might not really notice them. We might not be very perceptible to them, but they are there to get our attention. Companies spend billions of dollars each year on advertising publicly in ads and media sources. They spend billions because they know that this is the only way that they can make more money off their investment in ads. In Jib†¦show more content†¦That exhilarating feeling we get when we watch these car commercials. They make us feel rich, powerful, and successful whenever we buy these cars. It’s engraved in our minds that this is what American dreams are all about. They use many mind-sensing appeals to get you to buy their products. They really make us feel that we are testing their product out. Many beer companies can get the consumer by displaying sex appeals. They put half naked women in their ads to get the audience s immediate attention. It really makes the consumer feel like they will have â€Å"hot women† to talk to when they consume their products. Companies can also use emotional appeals as well, such as showing skinny, deprived, hungry children in TV commercials. They reach out into our minds and make us feel that we should have a heart for these poor children. This is a positive way to persuade people to donate money to those who are in dire need of help. A recent analysis I did of an emotional appeal in â€Å"OK† magazine shows two manatees, one is the mother and the other is the son/daughter. They show them really close together. They are bonding together much like us. 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Corporate Governance Practices Bangladesh -Myassignmenthelp.Com

Question: Discuss About The Corporate Governance Practices Bangladesh? Answer: Introduction A socially responsible business (SRB) is a business whose aim is to create positive transformations in the society and contribute to its stakeholders including the local community along with its focus on profit maximization. The SRB is a profit oriented as well as it is socially accountable. It targets not only to gain financially but also aims to develop the wellbeing of the community (EY, 2015). Through SRB, the company can involve with the community in which it operates. It directs the company to minimize the hazards of its activities on the community and to contribute positively to the society. SRB assists the company to create a market space for itself. The company can form partnerships and alliance with the local community and team up with the NGO to fulfill its mission. It is a socially responsible activity and aims to create a long term relationship with the society (Mahmud Ara ,2015). In this context, certain companies have adopted SRB approach .Some of them are: General Electric: The GE foundation donated $88 Million to community and educational programs in 2016. The employees and retirees had also contributed through the organizations matching gift programs. Also, the companys Developing Health program aims at providing medical facilities around the world. Deloitte: The organization is committed to create a societal change and environmental sustainability working along with government and non-profit organizations. It motivates its employees to contribute to pro bono work (Ferrell, Fraedrich Ferrell, 2016). As the vision of Grameen Bank states, Banking for the Poor and its mission statement is to provide financial services to the poor for enabling them to realize their potential and bring them out from the vicious circle of poverty. It is focused towards empowering the poor especially women (Grameen Foundation, n.d.) Grameen Bank is a bank which provides microfinance to the poor and downtrodden. It supports the development of the community and grants small loans to the poor without any collateral security. It was founded in Bangladesh in 1976 by Professor Muhammad Yunus. It has created a system free from collateral which is opposite to the conventional banking practices. Its mechanism is based on mutual faith, responsibility, participation and creativity. It serves as a promoter in the development of the socio economic conditions of the poorest of the poor in Bangladesh. For its Low -Cost Housing Program the bank won the World habitat Award in 1998. In 2006, the bank along with its founder jointly won the Nobel Peace Prize. So, with its focus on the development of the financial, agricultural and health services by using digital technology to upgrade the lives of the poor, especially women , it can surely be called as a Socially Responsible Business Enterprise (Grameen Bank, 2018). An ethical dilemma or ethical paradox occurs when the individual has to select between two unfavorable alternatives. It is a decision making problem being two possible moral options neither of which are acceptable or preferable. The complication arises when opting for one solution would result in contravening other. There are certain features of ethical dilemma. Conditions when the individuals have to select the best course of action can be called as ethical dilemmas. Secondly, there must be a various course of actions to choose from. Thirdly, no matter which course of action is opted, some ethical principle is compromised. Thus, ethical dilemma has various options to choose from and it has multiple and undefined outcomes. It is not an easy choice to select between right and wrong (Mahmood Islam, 2015). The ethical dilemma can be explained with the help of some examples. When the social worker with the expertise of mental health care services, in a village is confronted by the client who is suffering from agoraphobia, an anxiety disorder with a fear of open and public places. If the clinician denies treating the patient on the ground of incompetence, it would create an ethical dilemma with his commitment to boost the wellbeing of the clients. In this case, the ethical paradox can be resolved by accepting the case and treating the patient by training himself in this area (Sustainable Development Knowledge platform, 2017). Certain allegations were claimed against Grameen Bank and its founder that he treated the bank as his personal property and used it to generate income for himself .Also, Dr. Yunus was accused of averting huge funds to a business and using the brand name of Grameen for developing many businesses. They claimed that the bank is sucking blood from the poor by charging interest rates as high as 30%. But in reality, the rates of interest on microfinance loans were less than 20%. The Grameen Bank offered loans at different interest rates which are as follows: Income generating loans were charged at 20%. House building loans were charged at 8%. Educational loans were charged at 5% (payable after completing the education). Loans to economically struggling family were granted at 0% (Grameen Bank, 2016). So, the bank and its founder were faced with the ethical dilemma and allegation of diverting the banks funds and charging higher interest rates than the Private Commercial Banks (PCB).The PCBs charged around 14 % on their loans. On the contrary the Grameen Bank charged 20% on the income generating loans. However, the income generating loans were structured for the economically rich classes which were capable to borrow the loans from PCBs as well. But it charged 0% interest from the economically backward classes which fulfilled its vision of Banking for the Poor (Adair Berguiga, 2015). Bangladesh has a strong political governance framework in the areas of financial management, fiscal reporting and watchdog institutions. Programs such as Strengthening Public Expenditure Management Program (SPEMP) and Bangladesh Local Governance support Project (LGSP) have been strengthening the financial management reforms and audit capacity of the banking institutions. According to Habib (2016) in December, 2010, Dr. Yunus was accused of averting the funds to the other businesses and using the brand name of Grameen to develop other businesses. It affected the governance of Grameen Bank after this ethical dilemma. The Bangladesh Government formulated a committee to monitor the activities of the bank. The Finance Minister of Bangladesh Mr. A.M.A. Muhith claimed that Dr. Yunus whose age was 70 at that time, should hand over the administration of the bank to others. He argued that as per the countrys banking rules, the retirement age of executives is 65. As a result, Bangladesh Central Bank passed an order to remove Dr. Yunus from the post of Managing Director, as he has crossed the retirement age. The High Court also rejected his writ petitions claiming the legality of the Central Banks action. The appeal is pending before the Supreme Court (Adamek, 2014). Corporate Governance can be defined as the mechanism which is able to recognize the basic values of society such as economic, political and socio-cultural including the human rights. The political governance of Bangladesh can be improved by implementing the components of Good Governance in the following ways: All the citizens of the country should have the right to participate in the decision making process directly or indirectly through intermediaries which represent them. The public representatives should have a broad and long term perspective on good governance. The institutions and processes should be able to serve the stakeholders and must be capable to meet the necessities while making the best use of resources. The decision making authority in the government and the public sector should be accountable to the public. All the citizens irrespective of their gender should be able to improve their living standards .The laws and regulations should be fair and applied impartially (Hossain, Enam Hasan, 2017). The principles of Corporate Governance to be applied for improving the governance of Grameen Bank are as follows: The bank should follow the rules and regulations framed for the administration of microfinance organizations by the government of the country. The information regarding the decision making should be easily accessible to those who are affected by such decisions and enforcements. All the members of the bank should feel that they have a share in the banks performance and decision making. In order to achieve good governance and to ensure sustainable human development, actions must be taken to make it a reality (Hudon Sandberg, 2013). References Adair, P. Berguiga, I. (2015).The interest rates and performance of MFIs in the MENA region: is there a moral issue? Ethics and Economics, 12(2). Adamek,J.(2014).Ethics of Microfinance in the Perspective of Profit as the Element Influencing Microloan Interest Rate Selected Problems. Finance and Accounting Theory and Practice, 351. EY (2015). Client protection in microfinance the current state of law and regulation. Retrieved from https://www.ey.com/Publication/vwLUAssets/EY-client-protection-in-microfinance/$FILE/EY-client-protection-in-microfinance.pdf on 11th February, 2018. Ferrell, O. C., Fraedrich, J. Ferrell (2016). Business Ethics: Ethical Decision Making Cases. Cengage Learning. Grameen Bank(2016) Annual R e p o r t 2016. Retrieved from https://www.grameen.com/wp-content/uploads/bsk-pdf-manager/GB-AR-2016_34.pdf on 11th February, 2018. Grameen Bank(2018). Introduction. Retrieved from https://www.grameen.com/introduction/ on 11th February, 2018. Grameen Foundation (n.d.). Mission. Retrieved from https://www.grameenfoundation.org/about on 11th February, 2018. Habib, H. (2016). Bangladesh: crisis of the Grameen Bank. The Hindu. Retrieved from https://www.thehindu.com/opinion/lead/Bangladesh-crisis-of-the-Grameen-Bank/article14670642.ece on 11th February, 2018. Hossain, M. Z., Enam, F. Hasan, M.R.(2017). The Role of Corporate Governance and Corporate Social Responsibility Practices in Organizational Excellence: The Case of Grameen Bank. Open Journal of Business and Management, 5, 119-130. Hudon,M. Sandberg, J.(2013).The Ethical Crisis in Microfinance: Issues, Findings, and Implications. Business Ethics Quarterly, 23(4), 561589. Mahmood, R. Islam, M.M. (2015).Practices of Corporate Governance in the Banking Sector of Bangladesh. International Journal of Managing Value and Supply Chains, 6(3), 17-29. Mahmud ,S. Ara , J.(2015). Corporate Governance Practices in Bangladesh: An Overview of its Present Scenario in Banking Industry. International Journal of Economics, Commerce and Management, 3(12), 408-425. Sustainable Development Knowledge platform (2017). A New Transformation Path. Retrieved from https://sustainabledevelopment.un.org/memberstates/bangladesh on 11th February,