TRIVANDRUM: Reserve Bank of India (RBI) Governor Raghuram Rajan said on Monday he was not in favour of devaluing exchange rates to boost economic growth, signalling India will not join other countries such as China or Japan in pushing down their currencies.

“I personally feel sustained devaluation is neither feasible nor a good strategy,” Rajan said in a speech at a conference on medium scale enterprises in Thiruvananthapuram. “This (devaluation) is not the intent of RBI.” But Rajan reiterated the central bank would strive to curb excessive volatility. Indian rupee has been one of the worst performers in Asia this year, falling by nearly three per cent after strong foreign investment outflows from equity markets.

Source: THT

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Symbol % Change Last Price Turnover
SFFIL 9.9778 496.0 2,259,970.0
NMBSF1 7.1429 15.0 770,620.0
SHPC 5.8824 576.0 9,567,952.0
NBF1 4.3478 24.0 33,080,361.0
SDESI 3.6810 338.0 7,376.0
Symbol % Change Last Price Turnover
UICPO 0.0 6,791,008.0
GLICLP -100.0000 0.0 13,679,100.0
HDL -9.4611 1,512.0 155,790.0
NGBBL -5.5024 790.0 15,691,908.0
KEBL -5.3933 421.0 37,600.0
Symbol % Change Last Price Turnover
NLIC -0.4169 2,150.0 48,639,865.0
NLICLP -4.4000 1,195.0 33,460,360.0
NBF1 4.3478 24.0 33,080,361.0
FOWAD -0.4924 3,840.0 20,603,338.0
SCB 0.0438 2,286.0 19,683,959.0