Mumbai: The nominal interest rates are unlikely to change in the near future, Union finance secretary S Narayan said on June 3.

Asked if interest rates are expected to change with the inflation rate hovering around six per cent mark, Narayan told reporters, "I do not expect change in rate (nominal) as of now".

The inflation for the week ended May 17 stood at 5.9 per cent.

Narayan, who was in Mumbai to review the performance of UTI (Unit Trust of India) Mutual Fund, said, "The real interest rate, inflation adjusted rate, will remain stable".

However, it is Reserve Bank of India which deals with the interest rates, he clarified.

Referring to the government's stance on current Rupee-USD exchange rate and accompanying volatility, he said, "We do not have a particular number in mind (for Rupee-Dollar exchange)."

PTI