Need some gyan on the current buzz in the finance world? Well, we have sought an apt medium for you.Presenting Kotak Money Watch, a fortnightly podcast series introduce by NRI Matters - a Kotak Mahindra initiative - where Mr. Indranil Pan (Chief Economist, Kotak Mahindra Bank Limited) would provide his qualified, expert opinion on the fortnight's financial/economic discussion topic.
You could also grace the Live Web Chat on Facebook with your queries and doubts at the time mentioned on the podcast. Be rest assured, Mr. Indranil Pan will revert to each query subjectively.
To begin with, you can get your fill on the current topic, i.e. Rupee Devaluation and its effects on NRIs and engage yourself with the upcoming podcast topics!
To get you acquainted, here's a little excerpt from the current topic:
"Kotak Money Watch: Thank you, Indranil - this is what we have in the news nowadays, on the pink papers. The moment something goes wrong, even by a couple of paise here and there with the rupee, when you compare it with the dollar, we have it on the front pages. We have opinion columns, we've got news channels calling in experts and they have long discussions on TV. What exactly is the deal on rupee depreciation? What does one mean by rupee depreciation in the first place, in layman's terms?
Indranil: In layman's terms, what it really means is that how many dollars you can actually buy with one unit of currency. And because the Indian currency is weaker than the global currency, we refer it to as one dollar is equal to so many rupees. So it is one dollar buys, say 45 rupees, which is one level of currency that you have. But the moment one dollar actually buys 50 rupees or you have to pay 50 rupees to buy one dollar in the global market that is another level of currency. Now the 45 rupees to 50 rupees is basically called the depreciation of the currency. So, basically, it means to say that the price of the dollar in terms of your own currency actually increases. Similarly, if you are right now at 50 rupees to a dollar which means I pay 50 rupees to get one dollar and that comes down to 45 rupees to a dollar, so I have to pay 45 rupees to get one dollar it actually means that your currency has appreciated. So the price of your currency is much better and you can actually then purchase more dollars with the same amount of rupees."
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