Reserves shrink by $94b in August; Beijing revises down 2014 growth to 7.3%
Reserves shrink by $94b in August; Beijing revises down 2014 growth to 7.3%
Rajan said that he sees a "mood of optimism" in India's economy and that the nation is relatively insulated from a slowdown in China.
Gold was put under pressure as the US Dollar Index rose by 1.2 per cent to 94.54.
The data furnished by the Reserve Bank of India (RBI) showed that India's forex reserves were negatively impacted by devaluation of gold prices.
Surprised on the yellow metal's drop? Don't be, says Matein Khalid
Jewellery buyers in wait-and-see mode in the wake of metal's bearish outlook.
Dubai jewellers expect the dramatic price dip to work in their favour to reignite consumer demand and lure shoppers in droves to their outlets.
In Gartner's previous forecast in April, it had forecast IT spending to dip 1.3 per cent in dollars and grow 3.1 per cent in constant currency.
With more travel and exposure, customers are now aware of designs and insist on exclusivity.
Asian stocks mixed while European equities rise