Mayaram meets treasury heads of foreign banks on Indian rupee

Written by Press Trust of India | Mumbai | Updated: Sep 1 2013, 16:09pm hrs
Economic affairs secretary Arvind Mayaram on Saturday discussed the rupees continuing fall and the resultant macro-economic impact with the treasury heads of leading foreign banks.

The closed-door meeting held at the LIC headquarters here was attended by treasury heads of foreign banks like Standard Chartered and HSBC, among others.

Though Mayaram spoke to the waiting reporters, he refused to talk about the outcome of the meeting. Similarly, the participants also refused to speak. According to sources, he discussed the crucial NDF (non-deliverable forwards) market, which largely influences the movement of the rupee in the domestic market.