New Delhi, Aug. 7 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday downplayed concerns over recent fluctuations in the rupee, stating that the currency's movement remains relatively contained when viewed against the backdrop of broader global volatility.

"There will be some volatility in the rupee, as we are living in uncertain times," Malhotra said at the post-monetary policy press conference. "But this is not unique to the Indian currency- even the US dollar has seen two-way movements of nearly 10 percent. In that context, the rupee's movements are relatively modest," he added, according to Business Standard.

The RBI governor also addressed concerns that the country's oil trade with Russia-now subject to steep US t...