Rupee at sept '13 levels but external sector better

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In August 2013, the rupee came under pressure due to weak external sector indicators: Forex reserves were falling and the current account deficit rising, as also the share of short-term debt in external debt (in percentage terms). In Sept 2013, Raghuram Rajan moved from Delhi to Mint Road as RBI governor, with an aim of improving these conditions. Cut to August 2015: The share of short-term external debt to forex reserves fell from 34.2 in Sept 2013 to 27.7 per cent in Sept 2014, while the period for which imports can be financed through forex reserves rose to 8.9 months in March 2015 from 6.6 months in Sept 2013. Forex reserves rose to $353 billion on August 14, 2015, from $275 billion in August 2013.