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Govt to step in currency market if needed: FM

Washington: Finance Minister Pranab Mukherjee has said that intervention in the currency market would be considered at an appropriate stage and he has discussed with Reserve Bank governor D Subbarao the situation created by the depreciating rupee in the past few days. “I had a discussion with the RBI governor as he is here,” Mukherjee told a group of Indian reporters here. The finance minister and the RBI governor are here to attend the annual meetings of the Indian Monetary Fund and the World Bank. Mukherjee said the government was closely monitoring the situation and intervention in the currency market would be considered whenever necessary.

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