Presenting the second part of Foreign Exchange & the Economy, on 'Forex Management' wherein the speakers educate us on the types of exchange regimes globally and the concept of currency convertibility. They also discuss, how central banks manage foreign exchange rates and ways they have dealt with currency crisis historically. During the discussion, the speakers furthermore touched upon the Indian forex crisis in 1992 and the usual reasons and consequences for a taper tantrum.

Speakers:
Sameer Shetty - President & Head, Digital Business & Transformation, Axis Bank with Neeraj Gambhir - Group Executive, Treasury, Markets & Wholesale Banking Products – Axis Bank

Open Dialogue:
The aim of Open Dialogue by Axis Bank is to bring to the fore nuanced and insightful discussions on macroeconomics and market-oriented subjects

Chapters:

00:00 - Introduction
01:41 - Types of exchange rate regimes around the world
04:24 - Convertibility of currency - Current Account vs. Capital Account
09:15 - How central banks manage Forex rate - direct intervention & capital control
13:35 - Is Rupee depreciation better than appreciation?
16:44 - "A very weak currency, while good for exports, will be bad for imports" - Neeraj Gambhir
19:24 - How central bank intervention in exchange rate impacts interest rates and inflation
21:00 - Currency crisis and the Indian Forex crisis of 1992
27:04 - India's fascination with Forex and the South-Asian crisis of 1997
32:14 - Measures taken by RBI to manage the Indian taper tantrum of 2012-13
36:31 - How has our Forex reserves evolved in the last 15 years?
39:34 - Conclusion

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