RBI monitoring depreciating rupee: Mukherjee

Finance Minister of India Mr. Pranab Mukherjee on Saturday said the Reserve Bank of India (RBI) is monitoring the depreciating rupee and would act at the appropriate time. The rupee dropped to a 2.5 year low against US dollar pushing cost of Imports and decreasing the earning from exports.

Pranab Mukherjee told reporters on the sidelines of the Vatsalya Mela 2011 “The RBI is keeping an eye on it (depreciation of rupee). They are watching the situation at the appropriate level.”

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