Currency movements not guiding factors for monetary policy: Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das on Friday said that currency movements are not the guiding factors for monetary policy decisions.

He said currency management is the domain of RBI and that it will deploy all the appropriate measures on the same.

The Monetary Policy Committee, which decided to go for a rate hike of 0.50 per cent earlier in the day, takes into account domestic factors on inflation and growth while formulating its rates strategy, Das told reporters during the customary post-policy press conference.

He said the primacy is given to inflation while the aspect of growth is also looked into.

On liquidity, Das said there should not be any worries about tightness and that the system wide funds availability was more than Rs 5 lakh crore.

Deputy Governor T Rabi Sankar said rupee trade proposals have been received from four to five countries and many banks. He did not provide further details.