RBI governor Shaktikanta Das says will ensure orderly movement in rupee

The Reserve Bank of India (RBI) is for an orderly appreciation or depreciation in the currency and is intervening in all market segments to curb volatility, governor Shaktikanta Das said.

“We don’t have a level in mind, but our endeavor is to ensure there is orderly evolution of rupee in both ways,” Das said in a fireside chat at the Singapore Indian Chamber of Commerce and Industry’s event in the city-state on Tuesday. 

India’s currency has been on a downward spiral, falling 6.6% this year, as fears of a global recession and deteriorating external balances fuel outflows. The central bank, earlier this