Arab Today, arab today weak rupee to make uae imports cheaper
Last Updated : GMT 12:04:57
Arab Today, arab today
Arab Today, arab today

Weak rupee to make UAE imports cheaper

Arab Today, arab today

Arab Today, arab today Weak rupee to make UAE imports cheaper

Abu Dhabi - Arabstoday

A slowdown in India\'s gross domestic product (GDP) growth in the fiscal year to March 2012 is likely to reduce inflationary pressures in the UAE as the bulk of its imports come from the South Asian nation, but that won\'t significantly impact global economic activity, local experts have said. India\'s central bank on Tuesday said growth will slow to 7 per cent this fiscal year, but left interest rates unchanged as it struggles to balance a toxic mix of high inflation and a flagging economy. Substantial cut The Reserve Bank of India\'s (RBI) new growth projection is a substantial cut from its October forecast of a 7.6 per cent increase in economic activity for the year to March 2012. The downgrade reflects weakening global growth as well as domestic policy paralysis, high inflation and dwindling investment. Last fiscal year, India\'s economy grew 8.5 per cent. \"India\'s economy estimated at $1.84 trillion [Dh6.75 trillion] in 2011 accounts for 2.63 per cent of global economic activity in nominal terms. The country consumes about 3.9 per cent of global liquid fuels. A slowdown in the Indian economy is not likely to impact global economic activity significantly,\" Giyas Gokkent, chief economist at National Bank of Abu Dhabi, told Gulf News. He added: \"India\'s real GDP growth is forecast to moderate from 8.5 per cent in 2010-11 to 7 per cent in 2011-12 and 6.5 per cent in 2012-13. These growth rates are still relatively high.\" Pradeep Unni, senior relationship manager at Dubai-based Richcomm Global Services DMCC, told Gulf News the slowing economic growth in India may result in the weakening of its currency — the Indian rupee. \"[A] weaker rupee will make imports from India, far cheaper,\" he added. The Reserve Bank of India cut the cash reserve ratio — the percentage of cash commercial banks must keep on hand — by half a percentage point to 5.5 per cent. That should add Rs320 billion (Dh23 billion) to India\'s cash-strapped banking system. \"Global inflationary pressure is subdued and this should provide space for gradual monetary easing as other emerging economies are doing. Easing is likely to occur in small incremental steps as RBI would want to assess the impact of its policy changes,\" Gokkent said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today weak rupee to make uae imports cheaper Arab Today, arab today weak rupee to make uae imports cheaper

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today weak rupee to make uae imports cheaper Arab Today, arab today weak rupee to make uae imports cheaper

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday