RBI to consider CAD, macro factors for policy decision
Posted on: 06:15 PM IST May 30, 2013
Mumbai: 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.