So the Rupee is falling and we thought it would be a nice idea if we could post a short thread simplifying a few reasons why our currency is slipping #RupeeVsDollar#Rupee
1. US-China trade war. Long story short, when two global giants slug it out & bleed themselves dry, it leaves a gaping hole in the global economic fabric. Slow growth globally means slow growth in India because India is also a part of this fabric.
2. Also, there's all this talk about a slowdown & stuff. So investors aren't really stoked about investing in India. Which means that the Indian rupee is no longer in demand because you need the Rupee to invest here. And when something isn't in demand, its value deteriorates
3. Also, many investors who believed the government would usher in a new era of economic prosperity have been left bitterly disappointed with the budget which increased taxes on Foreign Portfolio Investors ( read as people overseas who invest in Indian markets)
4. These foreign investors are in turn pulling out their money and are moving it to relatively safer places, like US Government bonds. And in the process, they exchange the rupees that they owned, for the dollars needed to buy US bonds.
5. This creates more demand for the dollar pushing its value up, while the Rupee depreciates because nobody wants it anymore. Also if you can think of other reasons why the rupee is on the slide. Please add them on this thread. Will help out other people. Cheers
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Nov 2022: Valued at $450 Mn, ZestMoney was all set to be acquired by PhonePe.
Dec 2023: ZestMoney shuts down!
What changed?
🧵👇🏼
2023 hasn’t been kind to ZestMoney–
The funding dried up;
PhonePe backed away from the acquisition;
And even the 3 founders resigned in May.
The reason?
Well, the business model itself.
See, if you made a purchase via ZestMoney, they’d take care of the bill at no cost– and you’d have to pay it back in installments over 3–6 months without interest.
🚨Retail inflation hit an alarming 15-month high of 7.44% in July 2023!
To give you some perspective, the RBI is expected to keep inflation between 4-6%. Now this could be a challenge for us. So, what should you do to protect your finances?🤔
Here are 3 things to know 🧵👇🏽
✅TRACK YOUR SPENDING
Bucket all your expenses into broad categories— rent, electricity, phone bills, personal care, groceries, childcare, fuel, subscriptions, transportation, house maintenance etc.
Once you have it all listed out, go over each category and see where you can comfortably trim down excessive expenses like frequently eating out or under utilized subscriptions.
See, the story starts in 1986 when after being forced out of Apple, Steve Jobs acquired Pixar from filmmaker George Lucas for a mere $5 million. And further invested another $5 million in the company.
At that time, Pixar was just a fledgling computer graphics division of Lucasfilm. However, Jobs saw the potential in the technology and the creative minds behind it!
But, the road to success was far from smooth for Pixar.