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RBI does not target any range for Rupee

As the rupee touched a 17-month high against the US dollar, Deputy Governor S S Mundra today said the Reserve Bank does not target any range for the domestic currency and intervenes only to curb volatility. "We don't target a particular range for the rupee. What we always do is to curb the undue volatility in the (forex) market," he told reporters on the sidelines of Exim Bank's annual commencement day lecture here.

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