As rupee loses value, FM says it's undervalued

Finance Minister P Chidambaram and outgoing RBI Governor Duvvuri Subbarao led a strong effort to calm the markets after the rupee hit another all-time low on Thursday. While Chidambaram reiterated the government will meet its current account and fiscal deficit targets and outlined more steps to address structural issues that are causing weakness, Subbarao explained that the central bank was focused on curbing volatility. Both spoke after market hours.

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