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HindustanTimes Sat,19 Apr 2014

P Chidambaram expects calm to return to domestic markets

Reuters  New Delhi, August 16, 2013
First Published: 18:27 IST(16/8/2013) | Last Updated: 18:40 IST(16/8/2013)

Finance Minister Palaniappan Chidambaram said on Friday that the sharp falls in domestic markets that sent the rupee to a record low were a reaction to global developments and he expected calm to return.

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Chidambaram, speaking to reporters, also said the fundamentals of the economy had not changed and asked investors to wait for the April-June quarter growth numbers due at the end of August.

"We have taken a number of measures," Chidambaram said.

"Let us wait for what the first quarter growth numbers are." Chidambaram spoke on a day which saw the rupee plunge to a record low of 62.03 to the dollar and stocks sliding to their biggest single day fall in two years.

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