Mumbai: The Reserve Bank of India cannot arrest the fall in the rupee if it is caused due to fundamental or global factors and can only take calibrated steps in the foreign exchange market, said deputy governor K.C. Chakrabarty on Friday.
The rupee had hit a record low of Rs56.52 to a dollar on Thursday, adding to a string of recent lows it hit in May.
A file photo of RBI deputy governor K.C. Chakrabarty.
At 12:30 pm, the partially convertible rupee was trading at 55.87/89 to the dollar.
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