Apropos, ‘Rupee doing fine compared to other emerging economies: FM’ (March 31). The rupee continues to face persistent depreciatory pressures amid escalating geopolitical tensions in West Asia, elevated crude oil prices, and sustained capital outflows. The RBI’s recent imposition of a $100-million cap on banks’ net open foreign exchange positions triggered a sharp, liquidity-driven appreciation. However, such regulatory-induced corrections lack durability. Absent substantive improvements in macroeconomic fundamentals, external balances, and capital inflows, the rupee’s trajectory remains inherently fragile.

N Sadhasiva Reddy

Bengaluru

Supply chain hindrances

‘The global economy’s many chokepoints’ (March 31) is a timely reminder about the disastrous supply chain disruptions. The impact of the closure of Strait of Hormuz is reverberating across world economies and the consequences could last long.

The next big chokepoint could be the rare earths, which are vital for tech-led global economic growth . The control and processing of rare earths are largely concentrated in the hands of China. The world must wake up quickly and strive to build resilient supply chains through cooperation.

Kosaraju Chandramouli

Hyderabad

RBI’s bag of tricks

Apropos ‘Bond Blues’ (March 31), the RBI faces a tough remit of containing yields without diluting its inflation-fighting credibility. Deft open market operations like Operation Twist of 2019 — of long term interest management — could smooth the yield curve. Liquidity management can be through tested devices as variable rate repos/reverse repo to arrest abrupt spikes. Clear forward guidance will be critical to anchor market expectations. If pressures intensify, limited devolvement support or green-shoe options in auctions may be used to stabilise demand.

R Narayanan

Navi Mumbai

Ecological vandalism

The relentless commodification of our last pristine landscapes is nothing short of ecological vandalism. We treat bio-corridors like theme parks ignoring that human intrusion disrupts critical carbon sequestration. For instance the footfalls in the Himalayas have surged by 40 per cent in a decade. The result is a trail of plastic and receding glaciers.

When pleasure activities are permitted in eco-sensitive zones we trade millennia of biodiversity for transient revenue. Statistics suggest that nearly 75 per cent of terrestrial environments are severely altered by human activity. We must designate biological hotspots as absolute no-go zones. Governments must strictly enforce inviolable zones and cancel destructive permits.

Vijaykumar HK

Raichur, Karnataka

Published on March 31, 2026