Profit

Fiscal deficit, weak capital gains responsible for rupee’s fall: Saumitra Chaudhuri

PUBLISHED ON: May 11, 2012 | Duration: 10 min, 30 sec

  
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Despite the Reserve Bank of India’s (RBI) efforts to prevent the rupee’s fall with frequent interventions the rupee ended lower at 53.63/64 to the dollar on Friday; it had closed at 53.44/45 on Thursday. The currency fell 0.3 per cent for the week. In an interview to NDTV Profit, Saumitra Chaudhuri, Member of Planning Commission, said that the rupee’s fall is a combination of various factors like fiscal deficit and weak capital flows. “The RBI is trying to stabilise the rupee,” he added.
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