KOLKATA | Fri May 18, 2012 2:39pm IST (Reuters) - The Reserve Bank of India will continue to intervene and take administrative measures to protect the rupee, deputy governor Subir Gokarn said on Friday.
"The approach over the last few months have been a combination of intervention at times when we have felt it will help us stabilise, and some administrative action. This is the approach that will work now," he said on the sidelines of an event. The rupee fell to a life-time low of 54.91 to the dollar on Friday, remaining the worst performer among Asians since March. Huge demand for dollars due to rising imports, and shrinking inflows from foreign investors due to sluggish growth, high inflation, widening current account and fiscal deficits and policy stalemate are key factors for the slide in the rupee. (Reporting by Swati Pandey) On Fri, May 18, 2012 at 1:48 PM, Harry P <[email protected]> wrote: > Nooresh Tweet: > Today is 3rd anniversary of " The Only 20% Upper Circuit to hit in Indian > Markets " Times are so bad nobody remembers it > > Happy 3rd Birthday - UPA 2 !! > -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
