What Brexit, rupee is strong, says Rajan
The RBI Governor, Dr Raghuram Rajan, on Friday reassured the people of the country that Brexit (Britain's voting itself out from the European Union) would have no effect on the Indian economy whose fundamentals were strong. Talking to the media in Kolkata, Dr Rajan said the Brexit effect would not be much on India. He said to tide over any possible situation arising out of the event, the necessary liquidity would be provided. There's no need for anybody in the country to fear. He said compared to global currencies, indian currency was fairly stronger. This would help tide over the Brexit also. Global stock markets were hit in the run-up to Brexit. Dalal Street also had its share of the effect. The stock markets are volatile.
