RE­SERVE BANK MOOTS ~ IN­TER­VEN­TION OVER­SEAS

Business Standard - - FRONT PAGE -

The Re­serve Bank of In­dia is hav­ing sec­ond thoughts on its cur­rency in­ter­ven­tion strat­egy and may in­clude off­shore non-de­liv­er­able for­wards mar­kets in its field of op­er­a­tions. This is to tor­pedo the ac­tiv­i­ties of spec­u­la­tors drag­ging the ru­pee to record lows. The cen­tral bank, in its sixth bi-monthly mone­tary pol­icy re­view, said it would form a task force to ex­am­ine the off­shore ru­pee mar­ket. ANUP ROY writes

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