.... Central bankers across the globe are renowned for their gobbledegook. So is the RBI. But what made Gokarn tell the world in clear terms that India is on a weak wicket? Was that a deliberate attempt to push down the overvalued Indian rupee, in terms of the real effective exchange rates? Or is it a way to curb demand, where the depreciating rupee makes imports expensive. This is the flip side of the argument.
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