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Economy Sep 27, 2012

PM wants to deploy measures to curb rupee volatility, says FM

The prime minister wants measures to avoid volatility in the rupee, Finance Minister P Chidambaram told reporters on Thursday after a meeting of the ruling alliance's partners.

He did not specify what those measures could be.


The rupee dropped more than 15 percent from its 2012 high in early February to a life low of 57.32 per dollar on June 22. It has, however, since recovered 7.5 percent.

"The prime minister underlined the need for a number of measures that will ensure that there is no volatility in the rupee," Chidambaram said.


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