India should use forex reserves to curb rupee turbulence: Basu
Quotes

India should use forex reserves to curb rupee turbulence: Basu

Last Updated: Monday, August 19, 2013, 13:37
 
 Comment 0
 
India should use forex reserves to curb rupee turbulence: Basu
New Delhi: India should use foreign exchange reserves to help stabilise the rupee, World Bank chief economist Kaushik Basu said in a lecture in New Delhi on Monday, after the currency hit a record low of 62.46 against the dollar on the same morning.

The rupee fell despite a series of measures unveiled last week to try to stall its decline. The rupee has been the worst performer in Asia since late May, when the U.S. Federal Reserve first signaled that it may begin tapering its monetary stimulus this year, sparking an exodus of cheap money from emerging markets worldwide.

Basu is a former chief adviser to India's finance ministry.

Reuters




First Published: Monday, August 19, 2013, 13:37


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved