The Reserve Bank of India need not intervene in the forex market as of now to prop up a weakening rupee, the chief economic adviser in the finance ministry said on Friday. The partially convertible rupee ended at 51.17/18 to the dollar on Thursday, after touching the day’s low of 51.28, a level not seen since 16 January. The unit had closed at 50.66/67 on Wednesday. “This is not that place where I would recommend intervention,” Kaushik Basu said……
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