In
this Jan. 21, 2013 file photo, President Barack Obama bows as he and first lady
Michelle Obama, wearing a ruby-colored chiffon and velvet Jason Wu gown, gets
ready to dance at the Inaugural Ball at the Washington Convention Center during
the 57th Presidential Inauguration in Washington. Michelle Obama's fashion is
making history again, at least for the next year, as her second inaugural gown
will be displayed at the Smithsonian Institution. The ruby-colored chiffon gown
made by designer Jason Wu is being lent to the National Museum of American
History for a year to coincide with the 100th anniversary of the Smithsonian's
first ladies exhibition. It will be paired with Obama's shoes designed by Jimmy
Choo and will go on display beginning Tuesday, Jan. 14, 2014.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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