RBI Keeping a Close Eye on the Rupee

16 November 2011 - Which Way to Pay

Email Article Print Article

RBI Keeping a Close Eye on the Rupee

The finance minister Pranab Mukherjee today announced that the Reserve Bank of India will continue to monitor the rupee as the currency dips to a 32-month low against the US dollar. Pranab also said that the RBI will intervene in the forex market ‘as and when necessary’.

These comments come just one day following a statement from the central bank saying that it will intervene in the foreign exchange market only in volatile circumstances.

The Deputy Governor of the Reserve Bank Subie Gokarn said that they will ‘intervene when there is a very strong movement in a particular direction or extreme volatility’ and that the bank does not aim to ‘fix a rate’ but to ‘smooth that volatility’.

Today saw the rupee fall by 24 paise to the lowest level seen in 32 months, trading at Rs50.91 against the US dollar as the euro fell on news that the debt crisis is deepening. This means that the Indian rupee is the most depreciated currency in Asia, and the fourth most depreciated currency in the world.



Compare Foreign Exchange and Currency >>

Compare Loan and Debt Products >>

Compare Cards Products >>

Compare Money Products >>

Compare Insurance Products >>

When the planning starts for that special day in everyone's lives , There is always the worry and stress of how much strain it is going to put on your financial situation . Marriage loans are helping lots of people to ease this stress.
08 August 2015
Which Way To Pay
Marriage loans have been introduced to help prepare for the expense you will incur when celebration the most special day of everyone's life.
As everyone wants that big day to be perfect , there is also a hefty cost that comes with it .
14 May 2015
Which Way To Pay
Marriage isn't a cheap affair that's why Marriage loans have proven so popular across India.
Everyone want the best education , But financially this can be a worry
07 October 2014
Which Way To Pay
Getting the best education is the main priority in most people's lifetime.