Rbi To Continue Protecting Rupee: Subir Gokarn

[katharnak]

KOLKATA: The Reserve Bank of India has decided to use both intervention and administrative initiatives to save the Indian rupee, said RBI Deputy Governor Subir Gokarn.

RBI has got sufficient reserves to meet its obligations.

Gokarn said on the sidelines of a banking event here today, “The approach over the last few months have been a combination of intervention at times when we have felt it will help us stabilise, and some administrative action. This is the approach that will work now.”

The rupee fell to a recrd low of 54.91 compared to US Dollar today, its third consecutive daily record low. It is also the worst performer among Asian currencies until now this year.