Diabytes
Rupee volatility News
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The RBI played an "admirable role" in bringing "incredible" stability to the rupee in the face of demonetisation and global upheavals like Brexit and the US elections, NITI Aayog Vice Chairman Arvind Panagariya has said.
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Rajan's bombshell, coming just ahead of the Brexit vote on June 23, could trigger volatility in the stock bond and currency markets.
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The Reserve Bank of India sold net USD 1.559 billion in the month of August in order to curb rupee volatility in the currency market.
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"I wish to reassure the markets that our macroeconomic factors are under control as the economy is in much better position relative to many other economies," Rajan told the IBA-Ficci organised banking summit Fibac.
Rajan said, once market volatility settles down, India should emerge again as an investment destination of choice. He also said that the crude prices may remain soft for a year or two.
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