India's high-growth economy gets a Middle East oil shock
It wasn't too long ago that India's central bank, the Reserve Bank of India (RBI), described the country's high growth-low inflation environment as a "Goldilocks" moment.
But that optimism has proved ephemeral as the ongoing war in the Middle East and the accompanying disruption to oil markets gives its world-beating growth story an unexpected jolt.
The impact is most starkly visible on the Indian currency, which has hit record lows and is down nearly 10% against the US dollar in the last year.
There's been some relief in the rupee
It wasn't too long ago that India's central bank, the Reserve Bank of India (RBI), described the country's high growth-low inflation environment as a "Goldilocks" moment.
But that optimism has proved ephemeral as the ongoing war in the Middle East and the accompanying disruption to oil markets gives its world-beating growth story an unexpected jolt.
The impact is most starkly visible on the Indian currency, which has hit record lows and is down nearly 10% against the US dollar in the last year.
There's been some relief in the rupee
12 days ago
