No Need For Unwarranted Pessimism: P. Chidambaram
  • Gaurav Sarkar
  • Aug 23 2013

August 23: As rupee breaches the 65/$ mark, Finance Minister P. Chidambaram assures that there is no need for panic at the present level. “The rupee is undervalued and all options are on the table to reduce the current account deficit (C.A.D.),” he says, adding that stability must return to currency markets. Chidambaram further points out that that Indian rupee is not the only currency facing volatility; most emerging markets are facing the same situation.