Reserve Bank of India Governor D Subbarao has attributed the sharp - TopicsExpress



          

Reserve Bank of India Governor D Subbarao has attributed the sharp depreciation of the rupee over the last three months to the government’s failure to take care of domestic structural factors such as a high current account deficit (CAD), which is well above the “sustainable level”. “Reducing the CAD requires structural solutions - RBI has very little policy space or instruments to deliver the needed structural solution. They fall within the ambit of the government. Structural adjustment will also take time. In the interim, we need to stabilize the market volatility, a task that falls within the domain of the RBI,” he added. business-standard/article/specials/rbi-governor-blames-govt-for-rupee-fall-113082900917_1.html#.Uh9Tq-2JO1Q.facebook
Posted on: Thu, 29 Aug 2013 16:14:22 +0000

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