RBI chief Reddy sees oil price as concern

The Reserve Bank of India Governor YV Reddy said on Thursday 7 October that the sharp rise in global oil prices was a matter of concern but India was well equipped to handle the situation due to sufficient forex reserves.

"It is a matter of global concern as much as that of India," Reddy told reporters after a central bank board meeting.

"We have to work out a macroeconomic policy package as we go along as we have already indicated, but we have sufficient reserves. Therefore, we are better

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