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This is an archive article published on June 12, 2013

RBI intervened on Tuesday to stem rupee fall: Montek Singh Ahluwalia

Ahluwalia also said there was a committee looking at simplifying foreign direct investment rules.

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Reserve Bank of India intervened in the foreign exchange markets on Tuesday to halt the rupee8217;s slide,the deputy chairman of the country8217;s Planning Commission Montek Singh Ahluwalia told a news channel.

Reuters had reported on Tuesday traders had spotted the central bank selling dollars via state-run banks starting at around 58.95 levels,after the unit fell to a record low of 58.98.

Ahluwalia also said there was a committee looking at simplifying foreign direct investment rules.

 

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