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."

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Media obsession with his layoff smacks of lack of focus

    Pretty much like his abrupt vanishing act had done 50-odd days ago, Congress vice president Rahul Gandhi’s return on Thursday from a long and myster

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Riskfactor</b>: Oblivious to reality

The hostile media effect, originally deemed the hostile media phenomenon, ...

Zehra Naqvi

Sensual wordplay

The student of literature looks for form and structure. The ...

Bubbles Sabharwal

The bitter cold heart of life

Life has a heart just as we do. Most times ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture