RBI move to curb FX volatility not prelude to rate changes: Chidambaram

JAIPUR (Reuters) - The RBI's steps to curb rupee liquidity are aimed at quelling excessive speculation and volatility in the forex market and should not be read as a prelude to policy rate changes, Finance Minister P. Chidambaram said.

The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity and making it costlier for banks to access funds from the central bank.

(Reporting by Rajesh Kumar Singh & Manoj Kumar; Writing by Subhadip Sircar; Editing by Supriya Kurane)