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3 years ago
India cbank chief says rupee gains to 45-50/dlr would hit exports
April 2, 2014 / 6:32 AM / 3 years ago

India cbank chief says rupee gains to 45-50/dlr would hit exports

1 Min Read

MUMBAI, April 2 (Reuters) - India's central bank Governor Raghuram Rajan told a TV channel a "substantial" strengthening in the rupee to 45 or 50 per dollar could hit exports, although he added the Reserve Bank of India was fine with "a certain amount of leeway" in the currency.

Rajan also said during a CNBC-TV 18 interview that the RBI does not want to declare victory on inflation yet, despite keeping interest rates on hold on Tuesday as widely expected.

The RBI would rethink its stance if there is a "substantial" change of inflation, up or down.

Reporting by Mumbai Treasury Desk; Writing by Swati Bhat; Editing by Rafael Nam

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