Arab Today, arab today weak rupee to make uae imports cheaper
Last Updated : GMT 21:43:59
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

 



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
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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