Indian economy relatively better placed amid grim global scenario: RBI Guv

"RBI has been supplying US dollars to the market to ensure adequate supply of liquidity," Governor Shaktikanta Das said

The Indian economy is "relatively better placed amid grim global scenario," RBI Governor Shaktikanta Das on Friday said, adding that the "Indian rupee is holding up well relative to advanced and emerging market peers.."

"We have zero tolerance for volatile and bumpy movement of rupee," Das said, adding, "RBI actions have helped in smooth movement of rupee." 

The rupee fell seven paise to 79.92 against the US dollar in opening trade on Friday.

"RBI has been supplying US dollars to the market to ensure adequate supply of liquidity," the governor said. 

Speaking at the inauguration of the Bank of Baroda