RBI reckons selling dollars to oil companies

May 26, 2012 Comment

Dehradun, (ANI): The Reserve Bank of India (RBI) may consider directly selling dollars to oil marketing companies in an attempt to arrest a further fall in the rupee, which has hit record lows for seven consecutive sessions. Interacting with mediapersons at Dehradun, RBI Governor, Duvvuri Subbarao noted that RBI is open to taking such steps as per needs of the hour. Commenting on the rupee slump, Subbarao said that certain structural changes are necessary to improve the situation.

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