As the rupee nosedived to 68.12 against the US dollar in early trade as leads showed ‘Leave’ camp ahead in ‘Brexit’ referendum vote, government, and market reactions to the results in India started pouring in.
Reacting to the the sharp fall that the Sensex saw in the morning after it slumped to 26,036.40, down by almost 965.82 points, India’s Economic Affairs Secretary, Shaktikanta Das said:
The Government is prepared for all eventualities.The stock market fall was an initial, spontaneous reaction.
In a bid to infuse confidence in the markets, Das pointed out that the rupee’s depreciation is in line with other Asian currencies, and if the slump continues, the RBI has discussed contingencies to deal with all possible eventualities.
He further went on to add that India’s trade with Britain is not going to be impacted significantly after Britain’s walks away from the union with the European countries.
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