India: RBI Governor sees “no fundamental reason” for rupee volatility

Reserve Bank of India (RBI) Governor Raghuram Rajan issued an unscheduled press release on 13 November in order to clarify the Bank’s position and strategy concerning recent developments in the value of the Indian rupee (INR). The statement was released the day after the rupee hit a two-month low of 63.72 INR per USD. The currency has experienced strong volatility in recent months following the historic low of 68.88 INR per USD recorded on 28 August.

Read more about Indian Exchange Rate.

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