RBI will move in on rupee when there's strong $ flow: Raghuram Rajan

MUMBAI: The Reserve Bank of India Governor Raghuram Rajan while speaking to reporters after the policy review said that the central bank will only move in on the rupee when there is strong flow of dollars.

Rajan said the central bank intervenes in markets only to reduce rupee volatility. According to him, the markets will find apt level for the rupee.

India has plenty of forex reserves, the RBI Governor said.

The rupee fell by 15 paise against the US dollar inintraday trade and hit day's low of 63.85 at the Interbank Foreign Exchange on selling of US dollar by exporters.