Heightened volatility in global financial markets has also caused apprehensions about the slowdown in global growth, said RBI.
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The RBI will continue its currency market intervention strategy to manage excessive volatility and maintain macro-economic stability. The rupee hit a new low of 86.63 against the dollar amid speculation about a more flexible approach. Active interventions have used significant foreign exchange reserves since September to defend the Indian currency.
Heightened volatility in global financial markets has also caused apprehensions about the slowdown in global growth, said RBI.
Heightened volatility in global financial markets has also caused apprehensions about the slowdown in global growth, said RBI.
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