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FM discusses rupee, economy with bankers, FIIs
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SME Times News Bureau | 26 Aug, 2013
Finance Minister P. Chidambaram Saturday discussed the volatility of the
rupee and the macro-economic situation with top bankers and foreign
investors separately, and assured them that the government would take
all possible steps to ensure stability in the market and capital
inflows.
Chidambaram was accompanied by top officials including
economic affairs secretary Arvind Mayaram and financial services
secretary Rajiv Takru at the meeting. He sought feedback from the
participants about their concerns over what was happening in the
country’s financial markets.
“Lot of good ideas came out from the
meeting and I think you should see something coming up shortly in the
next eight to ten days,” Takru told reporters after the meeting with
bankers here.
Top bankers including State Bank of India chairman
Pratip Chaudhuri, ICICI Bank managing director Chanda Kochhar, HDFC
Bank managing director Aditya Puri and Citigroup India head Pramit
Jhaveri.
ICICI Bank's Kochhar said: “The meeting was mainly to
seek ideas and suggestions on what can be done about capital inflows. It
was a very good and positive meeting.”
Chidambaram held a separate meeting with foreign institutional investors (FIIs).
Representatives of top global firms including Goldman Sachs, Citi, Morgan Stanley and Deutsche Bank attended the meeting.
The
meeting took place in the backdrop of massive outflow of money from
Indian equities and debt markets that has led to huge volatility in
rupee, and stock markets.
Foreign funds have pulled out nearly $12 billion since late May after the US Federal Reserve hinted at trimming stimulus.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹91.35
|
89.65 |
UK Pound
|
₹125.3
|
₹121.3 |
Euro
|
₹108.5
|
₹104.85 |
| Japanese
Yen |
₹58.65 |
₹56.8 |
| As on 19 Feb, 2026 |
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