Finance Minister Pranab Mukherjee on Wednesday exuded confidence that markets will stabilise in the next few days. He told reporters outside Parliament that the government and the Reserve Bank of India will work in close cooperation to bring stability besides ensuring adequate liquidity in the forex market. On the steps to deal with the financial crisis triggered by downgrading of the US sovereign rating by Standard and Poor's, Mr. Mukherjee said, both RBI and Ministry of Finance are working together in close cooperation to ensure that whatever steps needed, are taken. He reiterated that there will be no dearth of liquidity of forex. As regards the fallout of the US Federal Reserve's decision to keep the interest rates at near zero level for two years, the Minister said, it will have some impact on the Indian markets which are in the process of stabilisation after witnessing huge decline.
News On AIR | August 10, 2011 8:42 PM
Markets to stabilise in next few days: Pranab