Rupee's fall partly due to global factors: RBI

The sharp fall in the rupee to a record low on Wednesday is partly because of global factors, HR Khan, a deputy governor at the Reserve Bank of India, said.

May 16, 2012 / 14:35 IST

The sharp fall in the rupee to a record low on Wednesday is partly because of global factors, HR Khan, a deputy governor at the Reserve Bank of India, said.

"The RBI is aware of the situation. We have taken steps and will take further steps if necessary," he said at the sidelines of a summit of South Asian Association for Regional Cooperation in Nepal.

The rupee slid to a record low of 54.46 to a dollar, succumbing to the steep risk aversion hitting global markets and highlighting the vulnerabilities of a country facing challenging fiscal and economic outlooks.

first published: May 16, 2012 01:36 pm

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