RBI announces weekly sale of govt bonds to check fall in rupee price
Faced with a weakening rupee, the Reserve Bank of India, RBI yesterday announced it will sell government bonds worth 22,000 crore rupees every Monday to check volatility in the foreign exchange market.In a statement, the central bank said that the measure is part of a continuing effort to arrest the slide in the rupee.RBI had put in place measures last month to restore stability in the forex market.
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