......While the RBI notification states “risk management” as the subject of the regulation, the Sebi circular mentions no reason for carrying out the measures. Apart from these formal notifications, there have been some other eclectic interventions in the markets by RBI. State-run oil companies have been asked to meet their dollar requirements from a single bank (July 9). It seems banks were asked not to make predictions about the rupee in their forecasts to the public. The harsh reality is that these actions will not help stem the fall of the rupee; in all probability, they make things worse................
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