With the Rupee still under pressure, Economic Affairs Secretary Arvind Mayaram on Saturday held a discussion in Mumbai with the treasury heads of leading foreign banks.The meeting held at the LIC headquarters was attended by treasury heads of foreign banks like Standard Chartered, HSBC, among others.Though details were not disclosed, sources said the crucial non- deliverable forwards – NDF market, which largely influences the movement of rupee in the domestic market was discussed.The discussion comes in the backdrop of the Reserve Bank not having any control on this market. In the RBI's annual report released recently, it has admitted that there is deeper correlation between the rupee movement in the on-shore and offshore market.
News On AIR | August 31, 2013 7:25 PM
Arvind Mayaram meets treasury heads of foreign banks