Oct 28 2010, 10:00 PM
The official, who is in charge of forex management issue in India, said that they are not the forex traders, so they won’t buy USD actively.
And then, the fluctuated trend of forex rate is temporary. The import and export condition will determine the forex rate level.
However, it is not exclude the possibility that the India central bank conducts intervention action to forex market.
The official in central bank said that India always prepares for any forex rate fluctuation.