RBI to use euro as additional currency
By Our Banking Bureau | 05 Mar 2002
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Mumbai: The Reserve Bank of India (RBI) can use the euro as an additional currency for market intervention.
This follows a government notification providing the RBI the option of using the euro as an additional currency for operational purposes, an RBI press release said.
With this, the RBI will be in a position to sell or buy the euro as and when it is considered necessary.
The RBI will have two more centres - Hyderabad and Nagpur - for sale and purchase of the US dollar and the euro, for delivery in New York and Frankfurt, the release added.
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