RBI move to curb FX volatility not prelude to rate changes: Chidambaram

Last Updated: Tue, Jul 16, 2013 05:08 hrs

India's central bank's steps to curb rupee liquidity are aimed at quelling excessive speculation and volatility in the forex market and should not be read as a prelude to policy rate changes, Finance Minister P. Chidambaram said.

The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity and making it costlier for banks to access funds from the central bnk.

More from Sify: