BBC News Online: World: South Asia

Indian central bank steps in to save rupee

The Indian central bank, the Reserve Bank of India, intervened on the foreign exchange markets yesterday to support the rupee, which has been falling in value in recent days.

The bank's governor Chakravarty Rangarajan said the bank would not hesitate to prevent the rupee weakening further.

It stepped in after the rupee had fallen to its lowest level for twenty-one months.

Share prices also fell.

From the newsroom of the BBC World Service