India moves to reassure investors, markets rally

UPDATED ON OCT 14, 2008 02:13 AM IST
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India's Finance Minister moved to reassure markets on Monday as the government was trying to shield the economy from the global financial crisis, sparking a rally in the country's battered stock market and currency. Finance Minister Chidambaram appeared to address some of those concerns when he said the government, the central bank and the stock market regulator were coordinating on an hourly basis on a response to the crisis.

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