Asian integration is still ‘incomplete’, says RBI exec director
The regional integration of Asian finanical markets has progressed over the years, but there is still a lot of divergence between countries, according to G Padmanabhan, an executive director at the Reserve Bank of India (RBI).
Padmanabhan, in comments submitted to an OMFIF forum in Singapore, outlined a variety of factors constraining the integration and internationalisation of Asian currencies (with the exception of the Chinese renminbi).
Chiefly, he said, this a result of the failure to
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