On two Mondays the RBI has demonstrated two techniques to keep the rupee from toppling over. Last week, when the rupee touched a lifetime low of 61.21 to a dollar, it used a sledgehammer to block banks from carrying out any proprietary trading in the currency markets. The currency market was crippled by the weapon. On this Monday, however, RBI used textbook techniques operating through the markets to make its presence felt................
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