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Amid Russia Ukraine war, Indian rupee declines to an all-time low against US dollar: How does US Dollar determine the value of Indian currency? All you need to know

India is one such country that is primarily affected by Russia’s invasion of Ukraine. The Indian rupee fell to a record lifetime low of 76.97 against the US dollar.

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India is on the path to becoming the world's leading consumption economy, as household growth, tax reforms, and a booming Gen Z population fuel discretionary spending.

The ongoing Russia Ukraine war has not impacted just these two countries’ GDP but also affected the economy globally. India is one such country that is primarily affected by Russia’s invasion of Ukraine. The value of the Indian currency has declined to an all-time low.

The Indian rupee fell to a record lifetime low of 76.97 against the US dollar. It’s due to a significant increase in international crude oil prices, which has threatened to raise imported inflation and deepen the country’s trade and current account deficit.

Global crude oil prices were nearing record highs after reports said that the US and its European allies are considering barring Russian oil imports in response to the country’s invasion of Ukraine. Brent crude oil hit a high of USD 139.13 per barrel, before easing a bit.

Which is the most powerful currency in the world and how does it determine the value of other currencies?

US dollar is the most powerful currency in the world. All the trading in the world is done in US dollars. Each country has its own currency and its value is determined by the economic concept of Demand and Supply.

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The value of a currency that is in higher demand has a higher value. The value of a currency is determined by economic factors such as trade, inflation, employment, interest rates, growth rate, and geopolitical situations.

The concept of currency fluctuation is part of the larger Foreign exchange market.

What is Foreign Exchange Market?

The Foreign Exchange Market is mainly a global market for currency trading. One currency is exchanged for another at a particular rate. The rate at which two particular currencies are exchanged is called the exchange rate.

The value of one country’s currency in relation to another country’s currency is known as the exchange rate.

How does US Dollar determine the value of Indian currency?

The US dollar is in high demand because India imports more goods from the US than it exports. The demand for the US dollar will rise in this situation because more dollars will be paid to the US while purchasing products from them.

To pay for these goods, more dollars will have to be purchased on the foreign exchange market in India. As a result, demand for US dollars will rise compared to the Indian rupee, boosting their value.

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However, if the Indian Rupee’s value plummets dramatically, the government will step in. They will aim to decrease the supply of Indian rupees immediately to compensate for the low demand. They will purchase the Indian rupee on the market with US dollar reserves. As it buys more Indian currency with US dollars, the supply of Indian currency falls while the supply of US money rises, resulting in an increase in the rupee’s value and a reduction in the dollar’s value.

If the oil prices keep increasing at this rapid rate then the Indian currency could head towards 79 per dollar soon.

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Russia Ukraine War Live Updates: Russian military action will stop in a moment is Ukraine meets conditions, says Kremlin

Entertainment

Kriti Sanon’s Raksha Bandhan ad draws criticism over modern festive look

Kriti Sanon’s Raksha Bandhan advertisement has sparked an online debate, with some social media users questioning her contemporary festive outfit and the campaign’s concept.

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Kriti Sanon’s latest festive appearance has triggered a debate on social media after the actor featured in a Raksha Bandhan advertisement wearing a contemporary outfit.

In the advertisement, Kriti Sanon is seen in an off-white bralette-style blouse paired with a cape and a draped skirt. While the actor has previously experimented with contemporary interpretations of traditional fashion, some social media users criticised her look in the festive campaign.

The criticism was directed particularly at the choice of outfit for a Raksha Bandhan-themed advertisement, with several users questioning whether the look was appropriate for the occasion.

Advertisement’s pet dog sequence also draws reactions

The concept of the advertisement also became a point of discussion online. In the campaign, Kriti is seen tying a traditional rakhi on a dog after the pet barks at her.

The advertisement presents the ritual as a way of including the pet in the family’s Raksha Bandhan celebrations. However, several social media users questioned the decision to include the dog in the festive ritual.

Some commenters accused the brand of making a mockery of Indian festivals, while others said they disagreed with the overall concept of the advertisement.

Social media users criticise Kriti Sanon’s festive look

Kriti Sanon’s outfit became one of the main talking points among those criticising the advertisement. Some users described the outfit as inappropriate for a Raksha Bandhan campaign.

One social media user wrote that Kriti was tying rakhi in a “bra kinda attire” and questioned the use of such an outfit during the festival.

Another commenter compared the treatment of Raksha Bandhan with other festivals and criticised the advertisement’s presentation of the celebration.

Other reactions focused on traditional elements associated with Raksha Bandhan. One user questioned the absence of a puja thali and tilak while also criticising Kriti’s outfit.

A separate comment objected to the inclusion of the dog, arguing that the campaign was not representative of the traditional spirit of Raksha Bandhan.

These comments reflect the views of individual social media users and do not establish a broader consensus about the advertisement.

Kriti Sanon yet to respond to criticism

The Raksha Bandhan advertisement continues to receive mixed reactions on social media. While some users have criticised the actor’s outfit and the campaign’s concept, Kriti Sanon is yet to respond to the criticism.

The debate comes as brands increasingly use contemporary interpretations of traditional festivals in advertising, with the campaign’s presentation becoming a subject of discussion among social media users.

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India News

Rahul Gandhi’s T-shirt style gets a colourful twist for Gen Z outreach

Rahul Gandhi has adopted colourful shirts during his nationwide “Chhatron Ki Goonj” programme as the Congress steps up its outreach to Gen Z.

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Congress leader Rahul Gandhi has added a new twist to his public image as he steps up outreach to Gen Z through the nationwide “Chhatron Ki Goonj” programme.

The Leader of the Opposition in the Lok Sabha, who became known for wearing T-shirts during the 2022 Bharat Jodo Yatra, has recently been seen in brightly coloured shirts at several student-focused events.

The change marks a departure from the white T-shirts that became closely associated with his appearance during the Bharat Jodo Yatra, when he walked from Kanyakumari to Kashmir.

From white T-shirts to colourful shirts

Rahul Gandhi wore white T-shirts during the Bharat Jodo Yatra, including during its winter leg. He subsequently continued to appear in T-shirts at party programmes and political events.

The style also became a subject of political criticism, with the BJP repeatedly targeting Gandhi over his choice of attire and describing him as “non-serious”.

Gandhi, however, continued with the T-shirt look and it was also adopted by some Congress leaders who had traditionally appeared in kurta-pyjamas.

His latest appearances have brought a more colourful wardrobe into focus.

Rahul Gandhi’s colourful appearances

Gandhi wore a blue shirt at the first “Chhatron Ki Goonj” event in Kota, where he addressed the issue of paper leaks.

In Dehradun, he was seen wearing a shirt instead of his usual T-shirt. At an event in Allahabad, he wore a pink shirt while interacting with students, drawing discussion on social media.

He later appeared in a yellow shirt at an event in Pune.

The Pune programme focused specifically on female students and working women, with Gandhi addressing issues related to women’s safety, freedom and rights.

Congress steps up Gen Z outreach

The “Chhatron Ki Goonj” programme is part of Rahul Gandhi’s outreach to young people, with paper leaks and issues affecting students among the subjects being highlighted.

The Congress is also seeking to engage young women through programmes and interactions focused on issues concerning them.

Youth and women remain important voter groups in elections, and the Congress is increasingly focusing its outreach on Gen Z as it seeks to strengthen its connection with younger voters.

Gandhi’s colourful shirts have consequently become an additional talking point during his latest student and youth engagements.

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MK Stalin announces major DMK organisational Changes in Tamil Nadu

MK Stalin has announced a major DMK organisational overhaul, introducing age and term limits and expanding party districts from 77 to 110.

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DMK chief MK Stalin has announced a major overhaul of the party’s organisational structure, months after the party lost the Tamil Nadu assembly election.

Acknowledging the defeat, Stalin said the party must openly recognise its mistakes. He also pointed to the functioning of party office-bearers as one of the factors behind the electoral loss.

“Although there are several reasons for our defeat, the functioning of our party office-bearers is also one of them,” Stalin said, stressing that the party must acknowledge its shortcomings and ensure better performance at every level.

Stalin also described the DMK as a “specialist” in making comebacks and said the party would return stronger.

Age and term limits for party posts

Among the major changes announced by Stalin are age and tenure limits for party positions.

Stalin said the changes would involve a significant restructuring of the DMK’s administrative system, with priority being given to new faces. He said the measures were intended to make the party sustainable for the next 100 years and help restore the trust of young people and women.

Under the new rules, branch secretaries must be aged 45 or below and can hold the position for a maximum of two terms.

District secretaries, meanwhile, must be below 70 years of age and can serve for a maximum of three terms.

DMK to increase party districts from 77 to 110

The DMK executive committee has approved increasing the number of party districts from 77 to 110.

The expansion will be implemented as part of the party’s 16th organisational elections. Revenue districts will generally be reorganised so that each party district covers two assembly constituencies.

Where only one constituency remains after the reorganisation, it will be attached to another suitable party district within the same revenue district as a third constituency.

Stalin has been authorised to determine and announce the constituencies that will form the 110 party districts.

New branch structure planned in urban areas

The DMK will also introduce a new branch-level structure in urban areas, along with the post of branch secretary.

The new system will initially be implemented in Chennai, Coimbatore, Madurai, Tiruchirappalli and Salem. It may subsequently be extended to other corporations.

Once the new party districts are announced, district executive committees will have to meet and establish the union, city, area, town, ward and branch-level units within 15 days.

The organisational changes come as the DMK seeks to restructure its party machinery and prepare for its political comeback following its assembly election defeat.

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