The Rupee has ended weaker this week, with dollar gaining strength. This was due to increase in demand of the dollar from the corporates, due to the increased rate of demand against the other currencies. The dollar suffered slightly against the other currencies but the demand for durable goods seems to better the dollar market. Coming to the rupee, though it had opened on a slightly higher note at the beginning of the week, the consecutive demands for dollar, made rupee to suffer and slide down. In case of the East, the Yen suffered against the dollar. The UK currency also suffered, as the housing sector suffered slightly. This is the overall news as far as the Capital Market all over the world is concerned. One needs to watch out for the rupee and see if any consecutive improvements in the various sectors in the country would better its performance by the next fortnight.
August 2004 -
With the increase in the number of BPO jobs in India, and many jobs being centralised in India and other eastern countries, there has been an increase in the average Per Capita Income in the economy. With this there is an increase in the demand for energy. Now all the sources are being routed to the eastern sphere of the globe thereby resulting in lopsided demand and supply. This in turn would eventually result in alarming increase in the non-renewable sources of energy in one part of the world along. This again would result in increased usage of the natural resources, leading to excessive depletion of these resources. This issue must be addressed at first, such that such a depletion would not occur and the situation can be stabilised. This can be done only with faster development of the renewable sources of energy especially in countries where there is an increase in demand for energy.