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Indian Central Bank Calls for Joint Action to Calm Markets

  • Volatility in developing-nation currencies has risen in 2016
  • `Emerging nations can't be ignored,' says deputy governor
Updated on

India’s central bank is calling for coordinated action by monetary authorities to address the turbulence that’s roiling foreign-exchange markets this year.

“It is in the interest of everyone to see that there is some coordinated action,” Reserve Bank of India Deputy Governor H.R. Khan told reporters in New Delhi when asked whether any joint measures on currencies will be proposed at a Group of 20 meeting of finance ministers and central bankers. “When emerging countries get affected, the whole world gets affected,” he said, without saying what he was proposing.