Governor of the Reserve Bank of India Shaktikanta Das, in his keynote speech at the annual event of FIMMDA (Fixed Income Money Markets and Derivatives Association of India), said the bank The central bank helped stabilize the macro economy despite the volatile global scenario.
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Reserve Bank of India Governor Shaktikanta Das said the rupee has held its ground in extremely volatile global financial markets, which have seen a sharp devaluation of most currencies. major against the dollar.
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“Since the Jackson Hole summit last week, the market has become extremely volatile and uncertain,” the governor said.
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Mr. Das said that India’s foreign exchange reserves at $561 billion provide a “cushion” to “daily” shocks, helping the central bank intervene and protect the rupee from extreme volatility.
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The RBI’s policy is to prevent excessive volatility in the rupee, or exchange rate, and also hold up expectations around the currency’s devaluation, Mr. Das said.
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Going forward, our monetary policy will be prudent, agile and accommodative.
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He said that the health of our banking system is stable and can prevent any negative impact from external winds. Going forward, our monetary policy will be prudent, prudent and calibrated,” added Mr. Das.
