The rupee tumbled on yesterday, weakening to a 2-year low, due to concerns that an expected Fed rate increase will lead to uncontrollable of dollars from the market.
Those fears couldn't be assuaged even by crude sliding to a 6-year record in New York, although the INR(rupee) has done better than others against the currency of United States. The stock markets seemed more sanguine, the Sensex closing marginally up.
Raghuram Rajan, RBI Governor said on Friday last week that "we're prepared for any eventuality" with reference to a Fed rate increase.
Raghuram Rajan, RBI Governor said on Friday last week that "we're prepared for any eventuality" with reference to a Fed rate increase.
He'll be encouraged no doubt by Nov consumer inflation at 5.41%, still below the RBI TGT(target). Fitch regained India's sovereign rating and told the economy will continue to post better growth despite subdued prospects for the Asia-Pacific area.
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