Manoj's Feed
Aug 16, 2013

As rupee hits another record low, foreign investors baulk

MUMBAI/NEW DELHI (Reuters) – Finance minister Chidambaram tried to talk up the rupee on Friday after it plumbed another record low on concerns the central bank’s latest measures to defend the currency could be a step towards outright capital controls.

Traders said the Reserve Bank of India (RBI) was forced to step in to prop up the rupee as measures from the central bank late on Wednesday restricting how much Indian citizens and companies can invest abroad were seen as yet another roll of the dice that is undermining investor confidence.

Aug 16, 2013

As Indian rupee hits another record low, foreign investors baulk

MUMBAI/NEW DELHI (Reuters) – India’s finance minister tried to talk up the rupee on Friday after it plumbed another record low on concerns the central bank’s latest measures to defend the currency could be a step towards outright capital controls.

Traders said the central bank was forced to step in to prop up the rupee as measures from the Reserve Bank of India (RBI) late on Wednesday restricting how much Indian citizens and companies can invest abroad were seen as yet another roll of the dice that is undermining investor confidence.

Aug 14, 2013

India curbs FX outflows in new rupee salvo as inflation raises stakes

MUMBAI (Reuters) – India imposed restrictions on foreign exchange outflows on Wednesday in its latest attempt to prop up the rupee, as a spike in inflation heaped more pressure on policymakers to curb a crippling external deficit.

Finance Minister P. Chidambaram also reiterated his pledged to narrow the current account deficit – the main source of the rupee’s weakness – to 3.8 percent of gross domestic product this fiscal year and said the currency would not be allowed to slide into “free fall”.

Aug 14, 2013

India curbs FX outflows in new rupee salvo as inflation spike raises stakes

MUMBAI (Reuters) – India imposed restrictions on foreign exchange outflows on Wednesday in its latest attempt to prop up the rupee, as a spike in inflation heaped more pressure on policymakers to curb a crippling external deficit.

Finance Minister P. Chidambaram also reiterated his pledged to narrow the current account deficit – the main source of the rupee’s weakness – to 3.8 percent of gross domestic product this fiscal year and said the currency would not be allowed to slide into “free fall”.

Aug 6, 2013

India names ex-IMF heavyweight as new cenbank chief, rupee at new low

MUMBAI/NEW DELHI, Aug 6 (Reuters) – India named a former
International Monetary Fund chief economist to head its central
bank on Tuesday, giving fresh impetus to efforts to revive a
struggling economy and a currency that is languishing at record
lows.

Raghuram Rajan, who predicted the global financial crisis in
2005, will take over at the Reserve Bank of India (RBI) from
Duvvuri Subbarao, whose turbulent five-year tenure ends Sept. 4.

Aug 6, 2013

India names ex-IMF heavyweight to head central bank as rupee hits new low

MUMBAI/NEW DELHI, Aug 6 (Reuters) – India named a former
International Monetary Fund chief economist to head its central
bank on Tuesday, giving fresh impetus to efforts to revive a
struggling economy and a currency that is languishing at record
lows.

Raghuram Rajan, who predicted the global financial crisis in
2005, will take over at the Reserve Bank of India (RBI) from
Duvvuri Subbarao, whose turbulent five-year tenure ends on
September 4.

Aug 6, 2013

Raghuram Rajan appointed as next RBI governor

NEW DELHI/MUMBAI (Reuters) – India named Raghuram Rajan, a prominent former International Monetary Fund chief economist who in 2005 predicted the global financial crisis, to lead the Reserve Bank of India (RBI) as the country struggles to defend a rupee that hit a record low on Tuesday.

Rajan, 50, will take over from Duvvuri Subbarao, whose turbulent five-year tenure ends on Sept 4, amid a darkening outlook for Asia’s third-largest economy.

Aug 6, 2013

India names Raghuram Rajan as next central bank governor

NEW DELHI/MUMBAI (Reuters) – India named Raghuram Rajan, a prominent former International Monetary Fund chief economist who in 2005 predicted the global financial crisis, to lead its central bank as the country struggles to defend a rupee that hit a record low on Tuesday.

Rajan, 50, will take over from Duvvuri Subbarao, whose turbulent five-year tenure ends on Sept 4, amid a darkening outlook for Asia’s third-largest economy.

Aug 3, 2013

Indian row over poverty and policy extends to Harvard and Columbia

NEW DELHI (Reuters) – Indian government figures showing that poverty has been cut by a third since 2004 has set off a row between the country’s main political parties on whether the data is accurate, and a slanging match between two of the world’s best-known economists on the implications for policy.

The debate boils down to what path India should take in coming years as slower growth puts further poverty reduction at risk in the world’s second-most populous nation.

Aug 3, 2013

Poverty, policy row extends to Harvard and Columbia

NEW DELHI (Reuters) – Indian government figures showing that poverty has been cut by a third since 2004 has set off a row between the country’s main political parties on whether the data is accurate, and a slanging match between two of the world’s best-known economists on the implications for policy.

The debate boils down to what path India should take in coming years as slower growth puts further poverty reduction at risk in the world’s second-most populous nation.