RBI intervention may not do much to stabilise rupee: economic affairs secretary
Any intervention by India`s central bank may not do much to stabilise the rupee as a fall in the currency is due to global factors, a senior finance ministry official said on Tuesday.
Subhash Chandra Garg, secretary at the department of economic affairs said the RBI has spent about $23 billion so far to intervene in the market. Image source: Reuters