Tomorrow, we dive into Economy by Mrunal with Pillar 3B: BoP, Currency Exchange, Forex, SDR, NEER, REER, PPP (📖 pp. 555–590).
🎯 Targets to Complete
Pillar 3B: BoP, Currency Exchange, Forex, SDR, NEER, REER, PPP 🌍
- BOP 📊 – Understand Balance of Payments as a record of all economic transactions.
- India’s Balance of Payment Crisis 1991 🚨 – Explore the 1991 crisis and its economic lessons.
- RBI Forex Reserves 💸 – Learn about India’s foreign exchange reserves and their role.
- Remittances and BOP Stability 🛡 – Study how remittances stabilize the current account.
- Currency Exchange Rate 💱 – Examine how exchange rates determine currency value.
- Exchange Rate Regime: Theory (Appreciation/Depreciation) 📈 – Understand currency value changes and their impacts.
- Soft vs Hard Currency 🪙 – Differentiate between stable (hard) and volatile (soft) currencies.
- Bad Money Drives Out Good Money: Tughluq/Gresham 📜 – Explore Gresham’s Law and its historical context.
- Exchange Rate Regime: Historic 🏛 – Trace the evolution of exchange rate systems in India.
- IMF SDR 🌐 – Learn about Special Drawing Rights as an international reserve asset.
- Currency Convertibility 🔄 – Understand partial and full convertibility of the rupee.
- LRS 💳 – Explore the Liberalized Remittance Scheme for outward remittances.
- FCRA Act ⚖️ – Study the Foreign Contribution Regulation Act for foreign funds.
- Rupee-Ruble Agreement 🤝 – Examine bilateral trade agreements using local currencies.
- Dollarisation 💵 – Understand the adoption of the US dollar in other economies.