New Delhi, May 25 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra said the central bank will do "whatever is required" to ensure orderly movements in the foreign exchange market.
The RBI does not target any specific level for the currency but emphasized that the central bank stands ready to intervene if speculative pressures build up, the Governor said in a media interview.
He said India's central bank will do "whatever is required" to ensure orderly movements in the foreign exchange market. The rupee currently appears undervalued following a sharp depreciation of around 6 per cent since the West Asia war erupted on February 28.
The RBI does not target any specific level for the currency, Malhotra said, but emphasized that the ce...