The rupee opened on a flat note and appreciated 1 paisa to 83.14 against the US dollar in the morning session on Wednesday, amid a muted trend in domestic equities. Forex traders said the rupee is trading with a slight negative bias amid selling pressure from foreign investors.
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India’s foreign exchange regime is under fire from the IMF as it has been reclassified to stable from floating. This article discusses the potential implications of this reclassification for the RBI’s future actions and India’s monetary policy. It also examines India’s defense of its stable currency and the impact of a stable exchange rate on the country’s markets and economy. The article concludes by discussing the relevance of the IMF’s view for India’s forex policy framework.
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Uncategorized
India’s foreign exchange regime is under fire from the IMF. The reclassification to a ‘stable’ exchange rate regime has implications for the RBI’s actions and India’s economy. This article explores the potential impact on markets and discusses whether the IMF’s view matters to RBI’s forex policy framework.
