US dollar rises after Fed minutes


New York, Aug 20 | The US dollar strengthened in late trading on Wednesday as market participants pored through the newly-released meeting minutes from the Federal Reserve.

The dollar index, which measures the greenback against six major peers, increased 0.66 per cent at 92.8861.

In late New York trading, the euro decreased to $1.1856 from $1.1936 in the previous session, and the British pound decreased to $1.3115 from $1.3240 in the previous session. The Australian dollar was down to $0.7203 from $0.7243, Xinhua reported.

The US dollar bought 105.90 Japanese yen, higher than 105.39 Japanese yen of the previous session. The US dollar rose to 0.9136 Swiss franc from 0.9028 Swiss franc, and it rose to 1.3186 Canadian dollars from 1.3158 Canadian dollars.

The US central bank on Wednesday released minutes from its July meeting.

“Members agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term,” said the minutes.

“The dollar’s rise follows days of dollar weakness and likely reflects the lukewarm appetite for further policy accommodation despite the Fed’s concern for growth and inflation,” Chris Low, chief economist at FHN Financial, said in a note on Wednesday, commenting on market reactions to the minutes.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.


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