P Chidambaram: Indian rupee should be at 59-60 to US dollar

Sep 27 2013, 22:38 IST
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P Chidambaram P Chidambaram
SummaryCost of money in China and cost of money in India can't be same: Chidambaram

as the statement had led to spike in bond yields there.

As a result, FIIs pulled out close to USD 13 billion from domestic markets, primarily debt, between end May and August.

However, within the first fortnight of the new RBI Governor Raghuram Rajan taking charge, the rupee regained more than 10 per cent of its lost value, though since then it had shed some, following the 25 bps repo rate hike on September 20.

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