Can't arrest rupee fall if driven by weak
fundamentals: RBI
MUMBAI: The Reserve
Bank of India cannot arrest the rupee's decline if it is caused by weak fundamentals or global factors but can only take more calibrated
steps in the forex market in such a scenario, a top
official said today.
"If the rupee fall is due to fundamental weakness of the economy, or due to global factors, then the RBI cannot support it," RBI Deputy Governor K C Chakrabarty told reporters on the sidelines of an HR summit of the state-run banks here. The government must address trade deficit issues if the fall of the rupee is due to weak fundamentals, he added.
"If the rupee fall is due to fundamental weakness of the economy, or due to global factors, then the RBI cannot support it," RBI Deputy Governor K C Chakrabarty told reporters on the sidelines of an HR summit of the state-run banks here. The government must address trade deficit issues if the fall of the rupee is due to weak fundamentals, he added.
When the Rs symbol was created i had posted my comments on it but some of our Indian friends objected to my views but in retrospect i think i was right.Just by changing a symbol the value of that currency will not go up.After the introduction of that symbol rupee value is going down and down.The symbol is a poor copy of pound sterling and US dollar, look carefully.
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