» Business » India is better placed to deal with external uncertainties: RBI

India is better placed to deal with external uncertainties: RBI

By Neha Dasgupta
Last updated on: June 17, 2014 16:32 IST
Get Rediff News in your Inbox:

The rupee was trading at 60.2450/2600, off its near two-month lows, as exporters were spotted selling dollars while the rupee got a boost after the Reserve Bank of India chief said India was well positioned on the external front to deal with shocks.

The rupee had closed at 60.1550/1650 per dollar on Monday.  

RBI Governor Raghuram Rajan said the country is watching the Iraq situation, but despite the uncertainty the domestic economy is better prepared to deal with any shocks on the external front.  

The rupee had earlier fallen to 60.55, a level last seen on April 29, but came off after the RBI was spotted selling dollars through state-owned banks around 60.49 rupee levels, traders said.  

Brent crude futures held near $113 per barrel as concerns over oil supply persisted, with the United States considering air strikes in Iraq amid a worsening security situation in the key oil producing country.  

The partially convertible currency is seen trading in a range of 60.00 to 60.55 during the session. 

Get Rediff News in your Inbox:
Neha Dasgupta
Source: source
© Copyright 2021 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Moneywiz Live!