RBI to ensure orderly condition ahead of Brexit vote

RBI promises to take all necessary steps, including liquidity support

The Reserve Bank of India said on Wednesday it is monitoring developments ahead of Britain's referendum on whether to leave the European Union and would step in as needed to ensure order in financial markets.

"The RBI is maintaining a close vigil on developments, and will take all necessary steps, including liquidity support, to ensure orderly conditions in financial markets," it said in a statement.

The "Brexit" vote on Thursday comes days after RBI Governor Raghuram Rajan unexpectedly said on Saturday he would leave at the end of his tenure in September.

Markets were largely range-bound on Wednesday, with the Indian rupee trading at 67.51 per dollar from its 67.49 close, while shares and bonds were almost unchanged.

Photograph: Neil Hall/Reuters