In­dian govt, RBI to check ru­pee’s slide

Muscat Daily - - BUSINESS -

In­dia's Fi­nance Min­istry on Wed­nes­day said the gov­ern­ment and the Re­serve Bank of In­dia (RBI) will take all nec­es­sary mea­sures to check fur­ther slide of ru­pee.

‘No fun­da­men­tal ra­tio­nale for ru­pee to de­pre­ci­ate to lev­els we saw till yes­ter­day (Tues­day). It re­flected over­re­ac­tion of mar­ket op­er­a­tors. Gov­ern­ment and RBI will do ev­ery­thing to en­sure that ru­pee does not slide to un­rea­son­able lev­els’, Eco­nomic Af­fairs sec­re­tary Subhash Chan­dra Garg tweeted.

‘To­day's cor­rec­tion seems to re­flect that re­al­i­sa­tion’, he added. On Wed­nes­day, it fell to new in­tra-day record low of 72.91 per US dol­lar be­fore re­cov­er­ing to 72.11 at 4.00pm.

Petronas may in­vest in S Su­dan oil blocks

Malaysian state en­ergy com­pany Petronas is in­ter­ested in de­vel­op­ing oil blocks in South Su­dan, Pres­i­dent Salva Kiir’s of­fice said.

Kiir and Petroleum Min­is­ter Ezekiel Lul Gatkuoth on Tues­day held talks with a Petronas del­e­ga­tion headed by Mohd Anuar Bin Taib, the com­pany’s ex­ec­u­tive vice pres­i­dent, ac­cord­ing to a state­ment. The com­pany is in­ter­ested in in­vest­ing in blocks (A) and (B), it said.

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