[snap] new RBI chief, new rupee low | beyondbrics

[snap] new RBI chief, new rupee low | beyondbrics:

"Raghuram Rajan, chief economic adviser to India’s finance ministry, has just been announced as the next chief of the Reserve Bank of India.

And as if to welcome the news and remind him of the tricky job ahead, the rupee hit a new low on Tuesday, reaching 61.86 to the dollar.

The current central bank governor, Duvvuri Subbarao, is due to finish his five year term in September. Rajan has been appointed for a three year stint.

Rajan was previously chief economist of the International Monetary Fund, and a professor at the University of Chicago."

'via Blog this'