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Reserve Bank of India has zero tolerance for volatile and bumpy movements in the rupee and will continue to engage with the foreign exchange market to ensure the rupee finds its level, its chief Shaktikanta Das said on Friday.
Das said the Reserve Bank of India has no specific level on the rupee in mind and since there is a genuine shortage of dollars in the market, the central bank has been supplying dollars.
Das was speaking at a banking conclave organised by the Bank of Baroda.
He also said the central bank has built its foreign exchange reserves for a situation like the present and has adequate levels of reserves to handle the current crisis.
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