Rediff.com« Back to articlePrint this article

RBI to consider CAD, macro factors for policy decision

May 30, 2013 18:08 IST

The Reserve Bank of India will take into account macro economic factors and “more importantly” the current account deficit for policy decisions, Governor Duvvuri Subbarao said on Thursday.

He

also said high current account deficit is leading to the rupee weakening.

India's current account deficit widened to a record high 6.7 per cent of GDP in the December quarter, driven by heavy oil and gold imports and muted exports, in a worse-than-expected performance.

Neha Dasgupta in Mumbai
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.