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Jun 01, 2012, 12.52 PM IST

Can't arrest rupee fall if due to fundamental factors - RBI

INDIA-RBI-RUPEE:Can't arrest rupee fall if due to fundamental factors - RBI

Source: Reuters
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Can't arrest rupee fall if due to fundamental factors - RBI
MUMBAI (Reuters) - The Reserve Bank of India cannot arrest the fall in the rupee if it is caused due to fundamental or global factors and can only take calibrated steps in the foreign exchange market, said Deputy Governor K.C. Chakrabarty on Friday.


The rupee had hit a record low of 56.52 rupees to a dollar on Thursday, adding to a string of recent lows it hit in May.


At 0707 GMT, the partially convertible rupee was trading at 55.87/89 to the dollar.


(Reporting by Shamik Paul; Editing by Subhadip Sircar)


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