MUNI THE BOSS

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ess_airtelclt20 #clt20 Akram: Sachin’s bowling changes odd http://ht.ly/193EGV 60 days ago reply
ess_airtelclt20 #clt20 Hussey brothers ready for tussle http://ht.ly/193EGW 60 days ago reply
ess_airtelclt20 #clt20 Unbeaten Chennai take on Victoria http://ht.ly/193x0W 60 days ago reply
ess_airtelclt20 #clt20 Rainbow Safari- A tour diary http://ht.ly/193jFu 61 days ago reply
divyaACLT20 Busy day at St George's park, despite the rain... all 4 teams turned up to train ahead of the first double header here. 61 days ago reply
ess_airtelclt20 #clt20 Bangalore lose early wickets http://ht.ly/193aLf 61 days ago reply
ess_airtelclt20 #clt20 “It’s home away from home for CSK” http://ht.ly/19326t 61 days ago reply
ess_airtelclt20 8 days into the Airtel CLT20, 9 more to go! Beat the other teams at our Super Selector, and win fabulous prizes! http://ht.ly/2FDLA 61 days ago reply
ess_airtelclt20 #clt20 'Skills and experience will help us' http://ht.ly/192J03 61 days ago reply
ess_airtelclt20 #clt20 In-form RCB face impressive Redbacks http://ht.ly/192G1R 61 days ago reply
ess_airtelclt20 #clt20 Sachin: Pollard made the difference http://ht.ly/192Esf 61 days ago reply
ess_airtelclt20 #clt20 Sachin wins toss; Mumbai opt to bat http://ht.ly/192cCZ 62 days ago reply
ess_airtelclt20 #clt20 McDonald: Finch did a fantastic job http://ht.ly/191P2D 62 days ago reply
ess_airtelclt20 #clt20 Desperate Mumbai eye first win http://ht.ly/191NlR 62 days ago reply
ess_airtelclt20 #clt20 Rainbow Safari- A tour dairy http://ht.ly/191KB9 62 days ago reply
ess_airtelclt20 #clt20 'Scoring for CSK easier than India' http://ht.ly/191J1E 62 days ago reply
ess_airtelclt20 #clt20 Dhoni praises Raina and Vijay http://ht.ly/191H2o 62 days ago reply
RajarshiACLT20 What an emphatic win that for Chennai. They destroyed Wayamba alright. More to come from the Kings, that's for sure. Watch out ..... 62 days ago reply
GautamACLT20 The three "single" teams have all been highly disappointing. 63 days ago reply
GautamACLT20 can't find chinese food in the area but Jonatahan Foo just checked in to the hotel. Wonder if he can help 63 days ago reply

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Juned Kidwai 17 hours ago

A battle of strategy is on the cards when Royal Challengers Bangalore take on an South Australia in an ACLT20 group B clash.
Today it seems very much difficult task for Royal C Bangalores to win against the powerpacked side of South Austrailians. Because all the players are from the Base Ball team. They hit the ball very hard all around the ground. they doesn't think against whom they are playing and which is the bowler. Now cricket becomes a power game like Base Ball. No techniques nothing else is there in the Gentlemen's game.
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Sukhish Dhawan 20 hours ago

hey wathout who is going to win this aclAIRTEL CHAMPIONS LEAGUE
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soumya dip choudhury 1 day ago

royal challengers r going to be winner of ths clt20 2010.........come on rcb dikha de.........
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Sharat kumar 3 days ago

zahir and harbhajan sincerely needs to revisit there bowling....they look clumsy..poor man...bhajji never looks like taking wicket nowadays....
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Manjukruthi 3 days ago

MI rocks
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Manjukruthi 3 days ago in reply to Manjukruthi

ninn aggi
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Manjukruth 3 days ago

super maga
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Raj Lotliker 3 days ago

CSK rocks




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Ishanattaneja 3 days ago

i love cricket
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Nidhi Sk 4 days ago

happy clt20 dayz guyz...
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HOMESuper SelectorFAN ZoneCommentweeterChampions Ke FansAirtel CL T20 HEADLINES RAINBOW SAFARIPollard: I do feel for bowlershttp://www.espnstar.com/servlet/file/500213_11_preview.jpg?ITEM_ENT_ID=500213&COLLSPEC_ENT_ID=10&FILE_SERVICE_CONF_ID=11
In an interview with CLT20.COM, Kieron Pollard spoke about his big-hitting abilities and made a candid admission that at times he feels for bowlers after ripping them apart. Read full story .. Akram: Sachin’s bowling changes oddhttp://www.espnstar.com/servlet/file/500237_11_preview.jpg?ITEM_ENT_ID=500237&COLLSPEC_ENT_ID=10&FILE_SERVICE_CONF_ID=11
Pakistan legend Wasim Akram says Mumbai skipper Sachin Tendulkar has struggled with his bowling changes under pressure. Read full story .. Hussey brothers ready for tusslehttp://www.espnstar.com/servlet/file/500797_11_preview.jpg?ITEM_ENT_ID=500797&COLLSPEC_ENT_ID=10&FILE_SERVICE_CONF_ID=11
Victoria skipper David Hussey in an EXCLUSIVE interview with ESPNSTAR.com says he wants elder brother Mike to score a ton for CSK and his own team to win against the IPL champs. Read full story .. Unbeaten Chennai take on Victoriahttp://www.espnstar.com/servlet/file/499780_11_preview.jpg?ITEM_ENT_ID=499780&COLLSPEC_ENT_ID=10&FILE_SERVICE_CONF_ID=11
IPL champions Chennai Super Kings face their toughest test yet when they take on Victoria Bushrangers in a Group A match of the ACLT20 on Saturday. Read full story ..
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Currency’s strength more due to dollar’s weakness and large FII inflows

— FILE PHOTO

LOSING STATUS: A money changer counts U.S. dollar currency notes at his office in New Delhi.

On January 11 the rupee closed at a 16-month high of 45.34 to the dollar in the inter-bank currency market. At the end of last year (December 31) it was at 46.54. A dollar would have fetched Rs.1.20 less in ten days. In other words, fewer rupees would be needed to acquire dollars.

The rupee has been appreciating since April 2009, but the trend has become more pronounced recently. In the new year, the appreciation has been particularly sharp, by 2.6 per cent in 10 days.

Obviously such a sharp rise in the rupee’s external value has major implications. Exporters will be hard hit as their competitiveness will be eroded in the global markets. These have started picking up only recently after more than a year of decline. The government had given a number of sops to export sectors to counter the fall in demand in importing countries. A new package has just been announced. Exporters of services including IT services have had to reckon with a strong rupee. A large portion of their billings is in dollars: they will consequently fetch fewer rupees.

Importers, on the other hand, stand to gain by the strengthening rupee. However, the petroleum import bill, forming a significant part of the overall import bill, may not see a sizable saving: high petroleum prices may offset the advantage in foreign exchange rates.

Crucial issues

There are a number of issues connected with the rupee’s rise. Does it reflect the economic strength of the country at this juncture? Are there limits to policy intervention to maintain the rupee value at particular levels? The rupee’s strength is more due to the weakness of the dollar over a fairly long period. Over a much narrower time span, the American currency has recently been under pressure in relation to most Asian currencies. The Korean won, the Thai baht and the Malaysian ringgit have all appreciated against the dollar recently. This phenomenon is attributed to the fact that these Asian economies have rebounded sharply in the post-recession period.

The U.S. economy, on the other hand, has had an uneven performance. More to the point, the Indian economy seems capable of growing by about 7 per cent this year. That rate will be one of the highest posted by any country and will be second only to that of China.

India’s higher growth rate need not necessarily translate into a higher exchange rate for the rupee.

Large FII inflows

Currently, the major factor influencing exchange rates is the large flow of foreign institutional investment into Indian stock markets. Last year FII flows were estimated at $17.5 billion and their main motivation seems to be the prospect of higher returns in India and other emerging markets as compared to the U.S.

The outward flow of capital from the U.S. connotes slow economic recovery there. Investors are prepared to take higher risks elsewhere. Earlier, extreme risk aversion had caused a flight of capital into the U.S. In times of grave crisis, the role of the dollar as a safe haven currency was once again in view.

It is not just the safe haven status but the dollar’s position as the world’ s reserve currency and the currency of choice in trade and dealing rooms that makes analysts, currency traders and policy makers take note of every morsel of economic news from the U.S.

At the beginning of December, better than expected pay roll data boosted the dollar temporarily but since the improvement could not be sustained, the dollar’s downtrend resumed.

While the FIIs’ confidence in the Indian capital market is welcome, the flood of dollars coming in may not be an unmixed blessing. Such flows are not stable. In the recent past these investors have pulled out of India en masse, causing a sharp drop in the stock markets.

The RBI has not intervened this time probably because such intervention has been expensive in the past. Any mop up of dollars will add to reserves and increase domestic liquidity exponentially, thereby fuelling inflation. Sterilisation measures _ to suck out excess rupees in the system — will be expensive in the current context of abundant liquidity. In its forthcoming policy statement, the RBI is expected to announce measures impounding a portion of domestic liquidity.

Finally, any talk of discouraging FII inflows — through, for instance, a Brazil type Tobin tax — will have to reckon with the crucial role they play in shoring up the balance of payments.

C. R. L. NARASIMHAN

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