RBI's Gopinath on forex, money and G-Sec markets

In a speech given on 13 August Shyamala Gopinath of the Reserve Bank of India said India will ensure stability in the country's $12bn-a-day foreign exchange market amid surging inflows and will maintain its slow pace in opening up the capital account.

"The approach has remained cautious, with a clear emphasis on the need for safeguards against potential financial instability that could arise due to excessive speculation ... even when macroeconomic fundamentals are reasonably good," she told the

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