RBI to announce measures to revive rupee: MukherjeeJune 25th, 2012 - 2:34 pm ICT by IANS
New Delhi, June 25 (IANS) Finance Minister Pranab Mukherjee said Monday the Reserve Bank of India (RBI) would announce measures later in the day to help revive the battered currency and the economy.
“The Reserve Bank of India is going to issue circular, as and when it is ready, during the day it will be announced,” Mukherjee told reporters outside his North Block office.
The finance minister refused to divulge any details of the measures to be announced by the central bank.
“Let’s wait for the notification,” he said.
Mukherjee had said last week in Kolkata that the government and the RBI would announce some steps to defend the currency and revive the economic and industrial growth.
The Indian rupee and the markets recovered on expectations of the new measures.
After hitting a record low of 57.33 against a dollar last week, the rupee strengthened by more than one percent.
The partially convertible rupee was trading at 56.58 against a dollar in the afternoon session, up nearly one percent from its previous trading session close at 57.12 percent.
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