Indian govt, RBI to check rupee’s slide
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.