archiveBretton Woods Agreement

The US dollar's position as the world's primary reserve currency has endured for over eight decades, weathering numerous economic crises, geopolitical shifts, and challenges from emerging economies. Despite periodic predictions of its decline, the greenback continues to dominate international finance, trade, and central bank reserves. Understanding why this supremacy persists requires examining the complex interplay of historical, economic, and institutional factors that reinforce America's monetary hegemony.Historical foundation and the Bretton Woods LegacyThe dollar's reserve currency status originated from the 1944 Bretton Woods Agreement, which established a new international monetary system...

The Reserve Bank of India (RBI) wants Indian banks to give loans to foreigners in rupees .The RBI has approached the Centre asking for permission to do so.The central bank’s move is the latest step towards the internationalisation of the rupee.But what happened? Why is the RBI making this move?Let’s take a closer lookWhat happened?The RBI wants to allow domestic banks to make loans to overseas borrowers in Indian currency.This would be a historic first for the nation.The central bank has already asked the government to allow domestic banks to...