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RBI MONITOR

Written By Admin on Thursday, 24 November 2011 | Thursday, November 24, 2011

Finance Minister Pranab Mukherjee has said that the Reserve Bank of India is keeping a close eye on the value of rupee against dollar. Talking to reporters outside Parliament, Mr Mukherjee however said that RBI can not make much intervention as the rupee volatility is because of uncertainty in the international market. He added that the situation will improve if Foreign Direct Investments in the country increases.

The Finance Ministry today said that the Reserve Bank and the government is monitoring the situation about rupee depreciation. Finance Secretary R S Gujral said that the movement of Rupee is determined by market forces and whenever there is excessive volatility the RBI will intervene as the situation warrrants. Speaking to reporters on the sidelines of sidelines of 35th meeting of the Heads of National Drug Law enforcement Agencies at Agra, Mr Gujral said the RBI will take appropriate action as required .

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