Govt, SEBI closely watching rupee flux

Govt, SEBI closely watching rupee flux
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New Delhi (PTI): Dismissing talks of probability of rupee touching 70 to a dollar in the near future, Chief...

RaghuramNew Delhi (PTI): Dismissing talks of probability of rupee touching 70 to a dollar in the near future, Chief Economic Advisor (CEA) Raghuram Rajan on Friday said the RBI, the government and SEBI are constantly watching developments in all markets and will take actions whenever necessary. "You hear all these talks in the markets of rupee going to 70 against the dollar etc. Let me say that I don't see any equilibrium analysis of rupee touching 70 to a dollar," Rajan said. "We don't like exchange rate volatility, we do not like excessively weak rupee. And therefore the RBI, the government and SEBI are constantly watching developments in all markets, also in exchange markets and will take actions whenever necessary," he added. The rupee had touched an all time low of 61.21 against the dollar on July 8 after better-than-expected US jobs data raised concerns about the possibility of US Fed easing its stimulus programme. Rajan further said that the government and RBI have the instruments to ensure stability in the market.
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