Statement by Dr Raghuram G Rajan, Governor on Brexit

It looks increasingly clear that the United Kingdom has voted to exit the European Union. Markets are trying to factor the consequences of this development and this has already led to sharp corrections in financial markets around the world.

The Indian economy has good fundamentals, low short term external debt, and sizeable foreign exchange reserves. These should stand the country in good stead in the days to come.

The Reserve Bank of India is continuously maintaining a close vigil on the market developments, both domestically and internationally, and will take all necessary steps, including providing liquidity support (both dollar and INR), to ensure orderly conditions in financial markets.

Alpana Killawala
Principal Adviser

Press Release: 2015-2016/2995

Related links
Governor’s comments on Brexit to ET Now: June 24, 2016
Audio Recording of Governor’s concall with media on Brexit: June 24, 2016
Impact of Brexit – RBI monitoring developments
Governor’s comments on Brexit on CNBC TV18