Cii Concerned Over Rupee Rise

The Confederation of Indian Industry (CII) has today expressed concern over the steady appreciation of the rupee visa-a-vis all competitor currencies since July 2002.

It has pitched for intervention of the Reserve Bank of India (RBI) in the currency market to limit further appreciation of the Indian unit.

A delegation, headed by CII president Anand Mahindra, met Bimal Jalan, the RBI, governor, to express its views in this regard.

In a press release, the CII said,