The Reserve Bank of India cannot stem the currency decline if caused by weak fundamental or global factors, Deputy Governor Kamalesh Chandra Chakrabarty reportedly said Friday.
The central bank can only take calibrated steps to support the currency, he said.
Further, he added that an option to sell dollars directly to oil marketing companies is open.
India's economy grew 5.3 percent during the quarter ended March 2012, marking the slowest pace in nine years.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.