RBI intervention sought to support declining rupee: Report


New Delhi, Sep 11: The Centre has asked the Reserve Bank of India to intervene in a bid to support the decline rupee.

According to a report in Bloomberg, officials have asked the RBI to intervene more aggressively in the market to the support the rupee, which has witnessed its worst position against the dollar in history.

The Centre was also looking at the NRI deposit scheme to encourage overseas Indians to invest in the country in a measure aimed to stabilise the falling rupee.

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The current account deficit (CAD) touched a five-year high of $15.8 billion during the first quarter, the Reserve Bank of India (RBI) reported on Friday.

The government is worried about the falling rupee and will announce specific measures to arrest the fall, a top government official had told reporters.

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