Friday, June 28, 2013

Stopping rupee slide, the Subbarao way


Reserve Bank of India (RBI) Governor D Subbarao, often criticised for being “behind the curve”, today took market players and his critics by surprise. RBI issued the January–March current account deficit data, better than anticipated, before market hours and two trading sessions ahead of schedule. The move was widely interpreted as the central bank’s bid to calm nerves after the rupee breach yesterday of the psychological barrier of 60 to a dollar...........


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