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RBI to intevene in forex market if there is excessive volatility

The rupee had slumped to a record low of 60.76 to the dollar on Wednesday on global dollar strength and concerns over huge CAD
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First Published: Fri, Jun 28 2013. 11 55 PM IST
Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint
Mysore: The Reserve Bank of India will intervene in the foreign exchange market only if there is excessive volatility, deputy governor K.C. Chakrabarty told reporters on Friday.
The rupee had slumped to a record low of 60.76 to the dollar on Wednesday on global dollar strength and due to concerns over India’s huge current account deficit. Reuters
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First Published: Fri, Jun 28 2013. 11 55 PM IST
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