Govt will keep taking more measures to arrest rupee's fall: Raghuram Rajan

Posted By: Religare
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With the Indian currency hitting a fresh record low of 57.76 against US dollar on Monday, the Chief Economic Advisor Raghuram Rajan said government will keep taking medium-term steps to arrest domestic currency's decline.

He also added that government will take measures to curb the current account deficit (CAD) which is set to shoot up to alarming levels with rupee's depreciation and slowing foreign capital inflows.

Rupee fell to record low of 57.76 on heavy dollar demand from foreign banks and importers and amid strengthening of US currency overseas against major global currencies.

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