Japan has been in the news as the flag bearer of free trade in current times. This is particularly so after the USA under President Trump has been questioning international trade rules, be it the multilateral WTO or the regional NAFTA and the withdrawal from TPP. This, however, does not mean that the USA is withdrawing from trade liberalisation. It will pursue that through bilateral FTAs (free trade agreements). It only wants a better deal for American interests.

USA and…

On June 28, 2018, the Indian rupee plunged to an all-time low of 69.10 against the US dollar amid growing concerns over tightening of global financial conditions and higher crude oil prices coupled with the worsening of domestic macroeconomic variables especially the current account balance and inflation.

The mad rush for dollar by importers and currency speculators was halted temporarily after the central bank, Reserve Bank of India, aggressively intervened in the currency markets by selling dollars in both spot…