Govt wants rupee stability; RBI may again aggressively defend the currency

News Snapshot:

Mumbai/New Delhi: The Reserve Bank of India (RBI) is expected to continue defending the rupee, with the government expressing confidence that the central bank's strategic interventions would stagger the pace of slide, according to a senior official. There is no change in the forex policy of the central bank despite several quarters believing that under the new governor Sanjay Malhotra, RBI would not aggressively defend the rupee, said the official, citing discussions between the government and the RBI on the currency slide. The Indian rupee has weakened about 3.5% against the dollar in the past six months to 86.88 on...