Raghuram Rajan to the Indian Reserve Bank as Economy Struggles

Aneesh Srivastava, chief investment officer at IDBI Federal Life Insurance, says “For a long-term impact we need to increase the attractiveness of India as an investment destination.”  In the meanwhile,  policy makers’ moves since July to tighten cash supply, restrict currency derivatives and curb gold imports have failed to arrest the rupee’s slump to record lows as they struggle to attract capital to fund a record current account deficit. The rupee has weakened 28 percent in the past two years, the biggest tumble since the government pledged gold reserves in exchange for loans from the IMF in 1991.  India Seeks to Buoy Rupee

Rupee

 

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.