Rajan says India watching Iraq, prepared for shocks

Tags: News
Reserve Bank of India Governor Raghuram Rajan said the country is watching the Iraq situation, but despite the uncertainty the domestic economy is better prepared to deal with any shocks on the external front.

The rupee tumbled to its lowest level in nearly two months on Tuesday on the worsening geo-political crisis in Iraq.

Brent crude futures held near $113 per barrel with the United States considering air strikes in Iraq as the security situation worsens in the key oil producing country.

"I think as far as the external front goes, we are in a much better position than we were last year," Rajan said on the sidelines of an industry event.

"We have sufficient reserves, the current account deficit is low. So I think one shouldn't worry too much about the external side at this point."

EDITORIAL OF THE DAY

  • Strict disclosure norms on unspent client funds will only help the market grow

    The Securities and Exchange Board of India’s (Sebi’s) reported move to make it difficult for stockbrokers to misuse client funds should be a much-

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

An unexplored side of rural enterprise

What is rural enterprise? Ask this qu­estion and 9 out ...

Kuruvilla Pandikattu

Black and white of morality

Would you kill one innocent person to save five? Choose ...

Dharmendra Khandal

So, how do we define a 'vermin'?

These days there’s an ongoing debate whether to declare various ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture