Rupee fall: RBI not to interfere

By agencies   |   Wednesday, 05 October 2005, 19:30 IST
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MUMBAI: The Reserve Bank of India (RBI) today refused to intervene in the fall of the Rupee, which tumbled to 10 month low against the dollar. "The exchange rate is market determined. So there is no question of any RBI interference," RBI Deputy Governor Rakesh Mohan said. Mohan said the RBI would take a view of all policy matters in the mid-term review on October 25. Sustained heavy dollar demand on the back of a strong dollar overseas today sent the Rupee tumbling to a new over 10-months low at 44.32/34 per dollar with sentiments negative due to receding foreign fund inflows into the equity market.