RBI to take steps to stabilise rupee: Gokarn

Gokarn also said RBI was likely to buy bonds through its open market operations

The Reserve Bank of India will continue to take steps to stabilise the rupee, Subir Gokarn, a deputy governor at the central bank, said on Monday.

The rupee fell below the key psychological level of 55 against the dollar to hit a new record low earlier in the day, setting up the prospect of further falls unless the central bank takes measures or intervenes more aggressively, traders said.

Gokarn also said the RBI was likely to buy bonds through its open market operations (OMOs) this week.