Friday, August 3, 2012

A cover for action

........Whether it is commodity price volatility or exchange rate movements, they have preferred a policy of frozen inaction to a proactive one of hedging against such risks. As the Reserve Bank of India (RBI) Executive Director, G Padmanabhan noted only the other day, higher volatility in the rupee’s exchange rate is the ‘new normal’ in the current uncertain global environment.....

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