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NEW DELHI (Reuters) – The Reserve Bank of India (RBI) and the Indian Market Regulator (SEBI) are closely monitoring financial market developments and are ready to take appropriate action if necessary, according to a statement from the central bank . Sunday.
A broker responds during trading at his computer terminal in a brokerage firm in Mumbai on February 26, 2016. REUTERS / Shailesh Andrade
The statement comes after Indian equity, foreign exchange and bond markets fizzled on Friday due to fears over the weak balance sheets of Indian non-bank financial corporations.
The rupee, the weakest currency in Asia against the US dollar, has lost about 12% of its value against the US dollar so far, hitting troughs in recent weeks as account
Reportage by Manoj Kumar; Edited by Edmund Blair
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