Nobel laureate economist Douglas W Diamond has said that the stability of the rupee against the dollar depends on exchange rates. "The continuous depreciation of the rupee will stabilize when the pace of appreciation of the US dollar slows down," he said.
In an interview with the news agency PTI, he said the dollar strengthens when the US hikes exchange rates unexpectedly. He said, when interest rates in the US and India come to almost the same level, things will start normalizing.
Let us tell you, Professor Douglas W. Diamond at the Booth School of Business of the University of Chicago has received the Nobel Prize jointly with Ben Bernanke, former chairman of the US Central Bank Federal Reserve, and American economist Philip H. Dibwig.
It is difficult to make accurate predictions of exchange rates, the Nobel laureate said. When the US raises rates unexpectedly, the dollar strengthens. When the rate hike in the US slows down, the rupee will stabilize. Let us tell you that on Friday, the rupee was up by 16 paise at 81.54 per dollar against the US dollar.
Diamond said the supervisory system works better when banks have capital. Competition among banks is necessary for depositors to get good returns, he said. Let us tell you, Nobel laureate Diamond worked on the 'Theory of Banking' in 2001 with former RBI Governor Raghuram G. Rajan.
With the start of PM Narendra Modi's tenure for the third time, the work of taking forward the bi
Bharat Jodo Yatra: A man traveling barefoot has become a point of attraction in the Bharat Jodo Y
Gujarat Titans have announced the replacement of Kane Williamson who has been ruled out of IPL 20
Gurgaon News: Miscreants attack religious place in Gurugram, one killed; two injured
After a violent clash in Nuh, some miscreants attacked a religious place in Gurugram's Sector-57
India defeated Australia by six runs in the fifth T20. With this victory, Team India won the five
These days Salman Khan is in the news for his upcoming film 'Tiger 3'. Fans are eagerly waiting f
Education Budget 2024: The Finance Minister can make big announcements for education, skill development, and employment, these are the expectations
The first budget of the third term of the NDA government led by Prime Minister Narendra Modi is bein
Delhiites are facing breathing problems. The AQI of many areas of the capital has been recorded a
Happy to be bought by his old franchise Kolkata Knight Riders (KKR) for Rs 23.75 crore in the IPL
China: Xi Jinping again became the President of China, unanimously got the term for the third time
Xi Jinping has once again become the President of China for the third consecutive term. Xi has se
