Monday, July 15, 2013

Global factors to blame for weakening rupee: RBI official

..........In his comments circulated at the Official Monetary and Financial Institutions Forum at Singapore on Friday, G. Padmanabhan, Executive Director, Reserve Bank of India, said: “The Indian financial markets are now increasingly getting integrated with global financial markets…..This is reflected in the increasing volatility in Indian financial markets as a result of spill over from turmoil emanating from international markets.” Padmanabhan observed that, as witnessed in recent weeks, the rupee came under some pressure primarily on account of external developments............

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