Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

India Ready To Take Steps To Calm Markets Over Coronavirus, Says Chief Economic Adviser

The rupee, which earlier fell to a record low of 74.5075 against the dollar, also reversed some losses.

Photo Credit :

1580466415_TcIeW0_Krishnamurthy_Subramanian.jpg

The Indian government and financial regulators will take necessary steps to calm markets gripped by fears over coronavirus, the government's chief economic adviser e said on Friday.

"Government and regulator will be responding when it will be necessary," Subramanian told reporters in response to a question if the government planned relief measures to tackle a rout in the stock market and the rupee currency.

Trading on the exchanges hit a "circuit breaker" a few minutes into Friday's session - the first time since 2009 - as widespread panic over the coronavirus pandemic gripped global markets. Indian indexes swung wildly after the markets resumed trading at 0450 GMT.

The rupee, which earlier fell to a record low of 74.5075 against the dollar, also reversed some losses.

(Reuters)


Tags assigned to this article:
krishnamurthy subramanian