Forex News - India is taking steady steps towards an increasingly free currency, Reserve Bank of India governor Raghuram Rajan said on Tuesday, but it will avoid a "big bang" liberalisation.
China's accession to the International Monetary Fund's benchmark currency basket on Monday was seen as a victory for Beijing's campaign for recognition, and puts the yuan alongside the dollar, euro, pound and yen.
Some economists say it was also a blow for India, an economy that was at virtual parity with China in the early 1980s but is now a fraction of the size.
China's accession to the International Monetary Fund's benchmark currency basket on Monday was seen as a victory for Beijing's campaign for recognition, and puts the yuan alongside the dollar, euro, pound and yen.
Some economists say it was also a blow for India, an economy that was at virtual parity with China in the early 1980s but is now a fraction of the size.
He detailed recent steps including moves by the central bank to allow companies to more easily raise rupee debt offshore.
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