With the rupee dipping to a one-month low, the headless chicken have come out squawking again, pleading for the RBI to intervene to shore up the Indian currency. Evidently, they haven’t learnt the lesson from 2011, when the rupee fell by 2011 because of heightened risk aversion in global currency markets, but retraced some of those losses earlier this year on the back of strong portfolio inflows, and a revival of the risk-on trade.………
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