......Former Reserve Bank of India (RBI) governor Duvvuri Subbarao must be thanking his lucky stars that his term in office ended when it did - right in the midst of the exodus of investors out of the country - on 3 September 2013. The capital flight out of India is no better depicted than by the nearly 20% drop in the Indian rupee versus the greenback from 54.79 rupee per US$ at the start of 2013 to a record low 68.15 rupee on the 28th of August. While the rupee's sharp depreciation was sparked by the sell-off in emerging markets ahead of widespread expectations of a taper in September, India's negative economic fundamentals - slowing growth, high inflation and ballooning budget and current account deficits (the highest among the BRICs) - greased the Indian currency's slide...............
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment