As rupee fell past the psychological mark of 57 for the first time to
57.30 against the dollar , Finance Ministry assured that the Reserve Bank of India and the
government are taking measures to arrest fall of the Indian currency.
The Reserve Bank of India has directed
state-owned oil firms to buy half of their dollar requirement for oil imports from a single public sector bank.
The government has been taking supportive measures to encourage flow of foreign exchange into the country, Finance Secretary R S Gujral said.
"Government (is taking) action in terms of supportive measures for ensuring higher inflows of foreign exchange...
government is conscious of (situation) and is taking appropriate action", he said, adding the exchange rate is market determined.
During the intra-day trade, the rupee fell way past the psychological mark of 57 for the first time to 57.30 against the dollar on strong demand for the American currency from oil importers, increased capital outflows and concerns over slowdown in global economic growth.
<em>Photo: AP</em> 
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