One chart for Raghuram Rajan | beyondbrics

One chart for Raghuram Rajan | beyondbrics:

"

A snap view of what the markets think of Raghuram Rajan and the task awaiting him as he prepares to take on the top job at India’s central bank.

The rupee has been in a death spiral for most of this year, falling from around 53 to the US dollar in February to an all-time low of 61.87 during trading on Wednesday. That was before news broke that Rajan – a world-class economist with a classy curriculum vitae – was to take over at the Reserve Bank of India from next month.

Investors were clearly impressed. The rupee rallied. But after that initial burst of optimism, it looks like it’s back to the slippery slope. The above chart will update automatically, so we’ll see how the rival forces of reputation and circumstance play out."

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