пятница
Raghuram Rajan, the new governor of India's central bank, swept into office this week infusing a sense of optimism.
He announced hard-headed measures Wednesday that remove uncertainty which has characterized the Reserve Bank of India's moves.
By Friday Indian equities and the rupee were clawing back.
But analysts say the exuberance — and honeymoon with the suave MIT-trained economist — is unlikely to last.
After decade-long high growth rates India is now the sick man of the Asia.
Growth has crashed to a four-year low. The rupee has plunged 16 percent since June, driving up the cost of imports and threatening to widen India's massive current account deficit.
Enlarge image i