NEW DELHI, 21 JUNE: Expressing unhappiness over the decline in the value of rupee, finance minister Mr P Chidambaram today said there was no need for panic and the Reserve Bank will take action when necessary.
“We are watching the situation, the RBI will take whatever action it has to take. We have good economic advisors. We will (do) whatever has to be done… My request is you should not react in panic, its happening around the world,” he said while replying to a query on rupee slide at a Press conference here.
The rupee touched an all-time low of 59.98 in intra-day trade today. The Reserve Bank has reportedly intervened in the market to check the rupee slide.
Observing that India is not insulated from what is happening in other countries around the world, Mr Chidambaram said: “We are not happy, we are unhappy (over) what’s happening. pti