December 17, 2015 / 5:28 AM / 2 years ago

Fed's accommodative stance good for emerging markets - Finance Ministry official

A money lender counts rupee currency notes at his shop in Ahmedabad, May 6, 2015.Amit Dave/Files

NEW DELHI (Reuters) - The U.S. Federal Reserve's "accommodative" monetary stance is good for emerging market economies, and India does not expect to see large foreign selling from the country, India's economic affairs secretary Shaktikanta Das said on Thursday.

The Fed hiked interest rates for the first time in nearly a decade on Wednesday, while saying its monetary policy would remain "accommodative" as the U.S. central bank pursues a "gradual" tightening cycle.

"We are well prepared to deal with such external development," Das told reporters.

"(The) country is benefiting from low crude prices and overall macro-economic stability is also there."

Reporting by Rajesh Kumar Singh; Editing by Rafael Nam

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