rbi speech, 2006-05-25
While it is not possible for any country to remain completely unaffected by developments in the international exchange markets, fortunately we were able to keep the spillover effects of the Asian crisis to a minimum through constant monitoring and timely action, including recourse to strong monetary measures, when necessary, to prevent the emergence of self-fulfilling speculative activities (Mohan, 2005).
Sentiment: neutral
Topic: mp_exchange_rate