Reported 1 day ago
A former deputy governor of the Reserve Bank of India, Viral Acharya, has urged the RBI to allow greater volatility in the rupee, arguing that some level of fluctuation is essential for private hedging and economic resilience. His remarks come as markets await clarity on the new RBI Governor Sanjay Malhotra's stance on currency interventions. The rupee, despite recent volatility and pressures from a strong dollar and widening trade deficit, demonstrated stability in the past year, but Acharya warns against excessive defensive measures that could undermine market confidence.
Source: YAHOO