The government will continue to take measures to curb the current account deficit and does not want the rupee to be volatile, local television channels reported on Monday quoting Raghuram Rajan, chief economic adviser at the finance ministry.
New Delhi will keep taking medium-term steps to ease rupee volatility, Mr Rajan said.
The rupee fell to a record low of 57.76 on Monday as the dollar gained on data showing China's economy is fast losing momentum and after a report showed a reasonably healthy pace of U.S. job creation in May, renewing expectations the U.S. Federal Reserve might curb its asset purchases later this year.
Copyright Thomson Reuters 2012
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