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Economy Sep 27, 2012

PM wants to deploy measures to curb rupee volatility, says FM

The prime minister wants measures to avoid volatility in the rupee, Finance Minister P Chidambaram told reporters on Thursday after a meeting of the ruling alliance's partners.

He did not specify what those measures could be.

Reuters

The rupee dropped more than 15 percent from its 2012 high in early February to a life low of 57.32 per dollar on June 22. It has, however, since recovered 7.5 percent.

"The prime minister underlined the need for a number of measures that will ensure that there is no volatility in the rupee," Chidambaram said.

Reuters

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