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Stock impact report

India's Das Tames Once-Volatile Rupee With $689 Billion Reserves [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
Most Read from Bloomberg The Reserve Bank of India's foreign-exchange reserves have swelled to almost $700 billion in a move reminiscent of China's accumulation two decades ago. Frequent interventions under Das, whose six years in office are due to end in December, have transformed the rupee from Asia's most volatile currency to one of the least. At the same time, the exchange rate has dropped to record lows near 84 per dollar without sparking warnings about spiraling import costs and inflation. The latest example: The rupee's move was comparatively slight when the Federal Reserve's outsized interest-rate cut this week jolted global markets. Clamping down on volatility and building up a stockpile of foreign exchange holdings to safeguard the economy in the event of skittish overseas investors pulling funds has been a key plank of the RBI governor's tenure. While the strategy has helped attract foreign investment and improved a current account deficit that often caused headaches Show less Read more
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