India to take steps to curb rupee deficit: Raghuram Rajan

With the rupee dipping to an unprecedented low level on Thursday, Chief Economic Advisor to the Finance Ministry Raghuram Rajan said that the government is ready to take steps to curb volatility. The rupee today weakened to an unprecedented 59.93 per dollar, past the previous all-time low of 58.98. An optimistic Rajan also ensured that the situation will get better soon and said that every country and every market faces problems but the government is looking for ways to tapering the same. Rajan also said the central bank and other regulators would take action to support the rupee.