"There is no cause of panic...we are confident that the stability will return to the markets," Chidambaram said at a media conference here.
The finance minister said volatility in the currency market was unacceptable and the government was taking measures to improve the situation.
"We are not targeting any particular level for the currency. We want a stable currency...rupee today is undervalued and has overshot," he said.
--IANS (Posted on 22-08-2013)