....“The government (is taking) action in terms of supportive measures for ensuring higher inflows of foreign exchange ... the government is conscious of the (situation) and is taking appropriate action,” he said, adding the exchange rate was market determined. Attributing the current decline in the value of the rupee to the volatile international situation, Gujral said, the RBI was intervening to check sudden short-term movements in the domestic currency. The Reserve Bank has taken a slew of measures to encourage exporters to bring back foreign exchange and give freedom to banks to pay a higher interest rate on NRI deposits........
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