In this regard, it is essential that intervention tools evolve together with the changing dynamics of foreign exchange markets. Let me give you two examples. Today, 80% of the trading of the Mexican peso takes place off-shore or without a domestic resident involved.
Introduction Shri Rajkumar Dhoot, Hon’ble Member of Parliament and President, ASSOCHAM, Shri M. Narendra, Chairperson, ASSOCHAM National Council for Banking & Finance and CMD, Indian Overseas Bank, Shri Sunil Kanoria, Vice President, ASSOCHAM and Vice Chairman, SREI Infrastructure Finance Ltd.; Mrs. Shubhada Rao, Senior President and Chief Economist, Yes Bank Ltd.; Mr. Subhash C Aggarwal, CMD, SMC Group; Ms. Sudha Ravi, Co-Chairperson, ASSOCHAM National Council for Banking & Finance and CEO, PHL Finance Ltd., Shri D. S. Rawat, Secretary General, ASSOCHAM, distinguished guests, ladies and gentlemen.