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Top Economists Say Let the Rupee Fall Arvind Subramanian: 100 is almost necessary Arvind Panagariya: Overcome the psychology of 100 Raghuram Rajan: Let ₹ find its level Gita Gopinath: Let ₹ do its job D Subbarao: Let the ₹ fall Will RBI defend or is 100 coming? INSIGHTS Government’s Position Dr. V.A. Nageswaran Chief Economic Advisor, GOI May 12 / April 24 Stopping the rupee from falling further is one of the “central macro-economic imperatives” of FY27. India’s rupee is fundamentally “undervalued” (so investors should “buy” it.) RBI’s Interventions Reuters, May 20 Reuters spoke to four different bankers (names withheld), who said that RBI’s daily currency market intervention is $1 billion (estimated). This is slowing, but not halting the rupee’s slide. The RBI has been selling dollars every day in the past 10 days to relieve the pressure on the rupee, the bankers said. This has moderated the pace of losses, but not reversed them. What the Economists Say Dr. D. Subbarao Ex-RBI Governor, Top Economist May 20 / May 13 When you defend the rupee, the danger is not merely depletion of reserves; it is the credibility trap. If RBI interventions fail to arrest the rupee’s fall, market confidence can evaporate abruptly. A failed defence is worse than no defence. Exchange rate crises are not pretty. At heart, they are a crisis of confidence. If the fundamentals dictate the rupee should fall, then the RBI should let it fall. A weaker rupee is going to improve our export competitiveness. Dr. Arvind Panagariya Ex-Chairman, Finance Commission Ex-VC NITI Aayog, Top Economist May 21 Dear RBI, do not let the psychology of 100 per dollar determine your policy response. The right response at the moment is to let the rupee depreciate. Trying to defend the rupee will continue to bleed the reserves until they are exhausted. Even NRI bonds are like band-aid. You will eventually have to cross the psychological barrier of 100. Dr. Gita Gopinath Ex-Chief Economist, IMF May 21 / May 18 Currency depreciation forces you to cut back on imports (i.e., reduce your oil consumption, which is anyway the government’s goal.) If you try to intervene, all that happens is you lose your reserves. Let the rupee do its work. Dr. Arvind Subramanian Ex-Chief Economic Advisor, GOI Dec 29, 2025 Allow the rupee to gradually decline by 10% over the next few months. To catch up with Chinese export competitiveness, the rupee at 100 to the US dollar seems almost necessary. Dr. Raghuram Rajan Ex-RBI Governor, Top Economist Jan 25, 2025 There is no need to be overly concerned about the rupee’s big slide. I would let it find its level. Maybe some additional depreciation is useful for Indian exports. ENDQUOTE “Recognize reality even when you don’t like it. Especially when you don’t like it.” – Poor Charlie’s Almanac [Charlie Munger] @arabicatrader

Waiting period for basic cataract surgery 👁️ 🇵🇱 Poland – 246 days 🇦🇺 Australia – 84 days 🇪🇸 Spain – 74 days 🇨🇦 Canada – 66 days 🇬🇧 UK – 65 days 🇮🇳 India – Less than 1 day Source: OECD

China's Export of Rare Earth Metals

BREAKING: Japan's NIKKEI added ¥22,800,000,000,000 market value after lower than expected CPI. Japan Inflation hit a 4 year low of 1.4%. NIKKEI surged 2.4% adding $160B in single session.

🚨 “Let the rupee depreciate instead of allowing the psychological barrier of ₹100 per dollar to dictate policy responses. ₹100 is just a number, no different from ₹99 or ₹101, whether the oil shock is temporary or prolonged.” - 16th FC Chairman, Arvind Panagariya.

@SamikBJP @DrSukantaBJP Point is how each TMC Ward Corporators abused people properties and acquired properties thr builders as cut money. Also house construction work each stuff were thr cut money ward syndicates

How TMC syndicates can buy so many properties. Tax payers money abused syndicate cut money party fund channelized to buy luxurious properties TMC syndicates must be jailed Corrupt TMC Corporators owns many properties @SuvenduWB @paulagnimitra1 reddit.com/r/kolkata/s/hD…

Hydraulic pin retraction caused starship launch delay breakingthenews.net/news/details/6… baha breaking news

SpaceX readies 12th test flight of massive Starship rocket as IPO looms cnbc.com/2026/05/21/spa…

Microsoft Maia chips for Anthropic Claude @narendramodi @GoI_MeitY @PMOIndia breakingthenews.net/news/details/6… baha breaking news

BREAKING: Trump administration is set to invest $2 billion in quantum computing in exchange for equity in the companies such as IBM, according to Wall Street Journal report.

💹Yuan rockets to three-year high China’s currency is gaining strength as global banks are bet on even more gains. 🔸PBOC set the yuan’s daily fixing at 6.8349 per dollar—strongest since February 2023 🔸Offshore yuan is trading at 6.803 against the greenback after a recent 0.22% gain 🔸Yuan’s rise is supported by resilient exports and a weakening dollar 🔸Bank of America forecasts the yuan could stand at 6.70 per dollar by year-end This highlights China’s growing influence in international currency markets and global confidence in the country’s economic resilience

Quantum computing is future What is GOI roadmap on Quantum computing labs @PMOIndia @narendramodi breakingthenews.net/news/details/6… baha breaking news

🚨 BREAKING: 🇺🇸🇮🇷 PAKISTAN’S MINISTER HAS ARRIVED IN IRAN TO COORDINATE A POSSIBLE PEACE DEAL IRANIAN STATE MEDIA REPORTS THAT TEHRAN IS ALREADY RESPONDING TO THE LATEST U.S. PROPOSAL INSIDERS SAY THAT THE AGREEMENT MAY BE REACHED BY THE WEEKEND THIS IS EXTREMELY BULLISH FOR MARKETS!!

🚨Saudi Aramco is worth $1.8 trillion. That's 35% of the entire top 20 oil & gas industry combined. The largest oil & gas companies by market cap as of May, 2026: 🇸🇦 Saudi aramco — $1.8T 🇺🇸 ExxonMobil — $637B 🇺🇸 Chevron — $380B 🇨🇳 PetroChina International — $273B 🇬🇧 Shell — $249B 🇫🇷 TotalEnergies — $206B 🇨🇳 CNOOC International — $173B 🇺🇸 ConocoPhillips — $152B 🇧🇷 Petrobras — $142B 🇬🇧 bp — $121B 🇨🇦 Enbridge — $119B 🇳🇴 Equinor — $103B 🇺🇸 Southern Company — $108B 🇨🇦 Canadian Natural Resources Limited (CNRL) — $99B 🇺🇸 Duke Energy Corporation — $99B 🇨🇳 Sinopec International Petroleum Service Corporation — $95B 🇺🇸 Williams — $92B 🇺🇸 Enterprise Products — $84B 🇺🇸 SLB — $83B 🇮🇹 Eni — $83B 🔸Aramco is not in the same conversation as anyone else. This is a sovereign wealth engine disguised as an oil producer. 🔸8 US companies make up nearly 1/3 of the top 20. The US energy complex is deeper and more diversified than any other Western market. And it's getting more valuable as Middle East supply shrinks. 🔸China is quietly the 3rd bloc. with 3 state-owned companies. All expanding and all with upstream ambitions in Africa, Central Asia, and Latin America. In today’s energy landscape, oil&gas infrastructure are not just physical capacity it is geopolitical leverage, price stability, and strategic flexibility. Do not miss my latest article with the names of the best stocks in this field. Link in the comments 👇

35 African countries have taken Chinese loans for energy projects. This map is what energy geopolitics actually looks like. Oil. Gas. Coal. Nuclear. Solar. Hydro. Transmission infrastructure. China has financed all of them, across the entire continent, from Morocco to South Africa. Resource-rich countries get oil and gas financing Nigeria, Angola, Gabon, Congo, Chad, Sudan. China funds the extraction of commodities it needs, using loans that are often collateralised against future production. Infrastructure poor countries get transmission and distribution financing Ethiopia, Kenya, Tanzania, DRC, Zambia. China builds the grid, then owns the relationship with the government that depends on it. Everywhere else gets a mix solar, hydro, coal whatever the bilateral deal required to get the contract signed. This is a 35 country energy supply chain built on Chinese capital, Chinese contractors, and Chinese terms. The loans come with conditions. The conditions create leverage. The leverage compounds over decades. Africa holds some of the world's largest reserves of critical minerals, oil, and gas. China now has loan relationships with the governments sitting on top of them.

India's Major Remittance Corridors (%):💰🇮🇳 (Niti Aayog)