for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

India to wait and watch for yuan impact: fin secy

An employee bundles yuan banknotes at a bank in Changzhi, Shanxi province April 8, 2010. REUTERS/Stringer/Files

NEW DELHI (Reuters) - India will wait and watch the impact of China’s announcement on greater flexibility for the yuan, the finance secretary said on Monday.

“Let us not get into it. Let us wait and watch,” Ashok Chawla told reporters when asked what impact a yuan revaluation would have on the Indian economy.

Chawla also said India would support financial regulation reforms when leaders of the Group of 20 major economies meet over the weekend in Toronto.

Reporting by Manoj Kumar; Editing by Unnikrishnan Nair

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up