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Here's what Raghuram Rajan had to say about Brexit

In an interview to ET Now, RBI Governor Raghuram Rajan on Friday said that he was not overly worried over Brexit and that its impact on Indian rupee and bonds was lesser than on their peers.

BT Online        Last Updated: June 24, 2016  | 13:38 IST
RBI Governor Raghuram Rajan

RBI Governor Raghuram Rajan on Friday said that he was not overly worried over Brexit and that its impact on Indian rupee and bonds was lesser than on their peers.

In an interview to ET Now, the RBI Governor said, "RBI was in touch with other central banks across the globe and sees no immediate impact on the rupee, and that the central bank would provide enough liquidity if there was volatility."

In morning trade, the Indian currency breached the 68-level against the US dollar as Britons voted to exit EU in historic UK referendum vote.

In a statement published on RBI website, the RBI Governor said, "The Indian economy has good fundamentals, low short term external debt, and sizeable foreign reserves. These should stand the country in good stead in the days to come."

"Reserve Bank is continuously maintaining a close vigil on the market developments, both domestically and internationally, and will take all necessary steps, including liquidity support (both dollar and INR), to ensure orderly conditions in financial markets," he added.

 

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