Seminar/Workshop on Modalities of Foreign Exchange

The rupee-dollar trajectory will likely remain volatile in the near term till there is a definitive agreement between Ukraine and Russia. Besides, multi-year high inflation across global economies, along with a dovish RBI policy, is expected to keep dollar demand pumped up in the markets. This was emphasized by Mr Rakesh Mamodia Asst. General Manager State Bank of India while conducting a Seminar on “Modalities of Foreign Exchange” in Daly College Business School. He further stated that geopolitical developments, crude oil prices, and reversal in low-interest rate regime will guide the currency markets over the next few months as the actual impact of these events is yet to be fully priced in by the markets.

Mr Mamodia further stated that before looking closely at how different currencies may react to the geopolitical conflict between Russia and Ukraine, it is necessary to take a step back to understand the current situation in the energy market and its implications for the forex market.

While discussing the basics he stated that the Foreign Exchange rate (ForEx rate) is one of the most important means through which a country’s relative level of economic health is determined. A country’s foreign exchange rate provides a window to its economic stability, which is why it is constantly watched and analysed. If you are thinking of sending or receiving money from overseas, you need to keep a keen eye on the currency exchange rates.

The exchange rate is defined as “the rate at which one country’s currency may be converted into another.” It may fluctuate daily with the changing market forces of supply and demand of currencies from one country to another. For these reasons; when sending or receiving money internationally, it is important to understand what determines exchange rates.

Mr Mamodia further stressed on those factors that influence currency exchange rates. For countries, these factors can affect how one country trades with another. For individuals, these factors affect how much money one can get when exchanging one currency for another. Although it is not always easy to understand, track, or even anticipate these factors, it pays to know them, especially if you are interested in foreign currency. It is worth noting that these factors affect currency exchange rates at a macroeconomic level, meaning they affect global currency exchange rates and not local exchange rates.

The event was coordinated by Dr.Ratish Gupta and Dr. Shruti Maheshwari. Dr. Rinku Joshi presented Memento to the speaker.


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