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RBI move on dollar liquidity re-assuring: Assocham
Industry body Assocham on Monday welcomed RBI Governor Shaktikanta Das’ assurance that the central bank stands ready to take any measure to help the economy amid the current global health emergency.
New Delhi: Industry body Assocham on Monday welcomed RBI Governor Shaktikanta Das' assurance that the central bank stands ready to take any measure to help the economy amid the current global health emergency.
Governor Das' comments should reassure India Inc about the stability of the Indian financial markets, Assocham Secretary General Deepak Sood said.
"In the midst of pressure on the currencies of the emerging markets and global mismatches in the dollar liquidity, the RBI is rightly and swiftly acting by different tools available to it, including the Swap options.
Our large resource of foreign exchange of $487 billion gives an adequate elbow room to the RBI to be on top of the fast evolving situation in the world markets where there is a risk aversion as nations battle it out with the unprecedented pandemic," Sood said.
