India better prepared to deal with Iraq crisis fallout: Rajan
17/06/2014 18:01
With the Iraq crisis threatening to spur oil prices higher and push inflation up, the Reserve Bank today said the country has enough foreign exchange reserves and is better prepared to deal with any fallout, reported PTI. "As far as the external front goes, we are in much better position than we were last year. We have sufficient reserves. The CAD is low. And I think one should not worry too much on external environment front," RBI Governor Raghuram Rajan said. He was responding to queries on the impact of the Iraq crisis, which has affected global crude oil prices and the rupee, on the country's economy. Rajan said that since oil resources are in the south of Iraq, the infighting there has not directly affected the oil business. "The issue in Iraq is still an area of uncertainty. It is an issue that we are watching, and of course all should be concerned with the fighting in Iraq," he added.
17/06/2014 18:01
With the Iraq crisis threatening to spur oil prices higher and push inflation up, the Reserve Bank today said the country has enough foreign exchange reserves and is better prepared to deal with any fallout, reported PTI. "As far as the external front goes, we are in much better position than we were last year. We have sufficient reserves. The CAD is low. And I think one should not worry too much on external environment front," RBI Governor Raghuram Rajan said. He was responding to queries on the impact of the Iraq crisis, which has affected global crude oil prices and the rupee, on the country's economy. Rajan said that since oil resources are in the south of Iraq, the infighting there has not directly affected the oil business. "The issue in Iraq is still an area of uncertainty. It is an issue that we are watching, and of course all should be concerned with the fighting in Iraq," he added.
