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Business News/ Market / Stock-market-news/  RBI to intevene in forex market if there is excessive volatility
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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

Photo: Pradeep Gaur/Mint (Pradeep Gaur/Mint)Premium
Photo: Pradeep Gaur/Mint
(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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Published: 28 Jun 2013, 11:55 PM IST
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