RBI chief says forex reserves adequate to manage current situation

NEW DELHI (Reuters) - The Reserve Bank of India's forex reserves are adequate to manage the current situation, said RBI Governor Duvvuri Subbarao, adding that the measures taken to address the rupee's fall will remain as long as the currency is volatile.

The Indian rupee fell to a record low of 65.56 per dollar earlier on Thursday and settled at 64.55/56.

India's foreign exchange reserves were up at $278.602 billion as of August 9, compared with $277.17 billion a week earlier.

(Reporting by Rajesh Kumar Singh; Editing by Anand Basu)


Updated Date: Aug 23, 2013 03:30 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent