As rupee tumbles, Indian government urges calm

06/20/2013 | Hindu (India), The

The Indian government says its has many options at its disposal to stem the slide in the rupee, which reached a record low of 59.93 to the U.S. dollar after Wednesday's statements by U.S. Federal Reserve Chairman Ben Bernanke. "The Ministry of Finance, [Reserve Bank of India] and SEBI [Securities and Exchange Board of India] are watching developments closely and take action appropriate[ly]. ... We should not be overtly pessimistic," said R.G. Rajan, chief economic adviser to the Ministry of Finance.

View Full Article in:

Hindu (India), The

Published in Brief: