India Markets open in 4 hrs 53 mins

RBI has been intervening to stem rupee's appreciation - Arvind Subramanian

NEW DELHI (Reuters) - The Reserve Bank of India has been intervening to stem the rupee's appreciation, Chief Economic Adviser Arvind Subramanian said on Monday.

Subramanian said there was a "big" appreciation of the rupee between January and April which had adversely impacted Indian exports and the country's import-competing sectors.


(Reporting by Rajesh Kumar Singh; Editing by Malini Menon)