Rupee fluctuations not a factor for MPC's consideration, says RBI

'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'

After the monetary policy committee (MPC) raised the repo rate by 50 basis points to 5.90 per cent, the Reserve Bank of India (RBI) management, including Governor Shaktikanta Das and Deputy Governor Michael Patra, spoke to the media on various issues. Edited Excerpts:

What is going to be your approach with the rupee as volatility increases going forward?
 

Das: The MPC decisions continue to be guided, and will be guided by domestic factors. There are two components in the MPC framework: inflation; and the requirements of growth in mind. The decisions are based on these twin objectives, with primacy being