All the day’s economic and financial news, including new German growth figures and UK unemployment data, plus the latest on Turkey’s currency crisis
The Indian government is urging people not to panic about the rupee’s slide to a record low this morning.
Subhash Chander Garg, economic affairs secretary at the ministry of finance, has blame the move on ‘external factors’ (a reference to the Turkish crisis, I think), adding that there is no need to worry.
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Newsflash: India’s rupee has fallen to a record low, as Turkey’s currency woes sends ripples through emerging markets.
“Investors are concerned that the rupee has crossed the 70 benchmark today….
The Reserve Bank of India’s monetary policy has shown concern for the rupee’s fluctuations so investors should not be worried by knee-jerk reactions in the forex market.”